Participants attend the fish auction at Chagan Lake, Northeast China's Jilin province, on Dec 28, 2015. [Photo/Chinanews.com]

The first fish caught at the start of winter fishing season in frozen Chagan lake fetched record-breaking 788,888 yuan ($121,646) in Northeast China's Jilin province on Monday.

The price for the 14.5kg catch was much higher compared to the 369,999 yuan paid for the highest priced fish in 2014.

The annual winter fishing, which kicked off in one of China's 10 freshwater lakes with 100,000 participants on Monday, is a traditional event dating back to the Liao Dynasty (907-1125).