It's not totally clear on who will be allowed to compete but the the competition will be fought without head gear and over the 6 round distance, with each round lasting 3 minutes, with the prize fund being worth 2.5¥ (Chinese Yuan), a huge figure for Chinese boxing.
The aim is that after the AIBA tournament the Chinese Boxing Association will then begin to hold their own professional tournaments in the hope of broadening the scope of boxing in China and build the focus on "Olympic style" boxing ahead of the 2020 Olympics in Tokyo.
Whilst it doesn't seem as intriguing as the cross-code bouts that took place earlier this year, as part of the Chinese New Year celebrations, the announcement is making something clear, AIBA see China as a potentially huge market and they want a slice of the talent there. In many ways it's success could breed other success for Chinese boxing, or it could mark another line in the same between "traditional" professional boxing and AIBA's professional codes.
(Image courtesy of SINA)