China is the largest untapped market for videogame sales in the world, and continues to be a tough territory to crack open due to a nationwide ban on the manufacture, sale and import of game consoles that was passed in 2000.
Now Chinese authorities are considering lifting this decade-long ban, according to the state-run news website China Daily.
A government source from the Ministry of Culture told the website:
“We are reviewing the policy and have conducted some surveys and held discussions with other ministries on the possibility of opening up the game console market.
“However, since the ban was issued by seven ministries more than a decade ago, we will need approval from all parties to lift it.”
Investors responded well to the notion of China opening up its console hardware market, with Sony and Nintendo’s shares rising 9.1 percent and 3.4 percent respectively on the Tokyo Stock Exchange.
We’ll keep you updated with the latest news on this story as it develops.