China has lifted the 14-year-old ban on gaming consoles, reports CNN.
This could be great news for Sony, Nintendo and Microsoft who are now free to trade in what will surely become a lucrative new market. This was evident at the stock markets as Nintendo shares jumped more than 10% in Tokyo, while Microsoft added 1%.
In 2000 the console manufacturers were denied access to the Chinese market due to concerns over violent content and the potential for moral decay. Most videogame consoles were ironically still manufactured by contractors based in China, but the new rule means consoles will need to be sold domestically in China to be built in the Shanghai Free Trade Zone.
Chinese gamers were previously forced to the black market to acquire consoles. CNN report that the PC, online and mobile gaming market flourished in China in the absence of console-based entertainment.