China Console Ban Could be Lifted, Manufacturer Shares Surge
Written Monday, January 28, 2013 By Richard WalkerView author's profile
Microsoft and its competitors could soon take advantage of an enormous untapped market, as Chinese authorities are looking to review a 13-year ban on video game consoles, according to a Culture Ministry source.
"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," the unnamed source said. "However, since the ban was issued by seven ministries more than a decade ago, we will need approval from all parties to lift it."
Seven Chinese ministries had banned the manufacture, sale and import of games consoles in China back in 2000, amid fears that they could cause harm to the physical and mental development of young children. Major console manufacturers such as Microsoft, Sony and Nintendo had made attempts to enter the Chinese mainland market officially, but failed.
Other Chinese officials have denied the reports, but that hasn't prevented shares from surging, with Sony's shares enjoying and 8% boost and Nintendo's shares climbing 3.5%. It's not currently known whether Microsoft's shares have grown, but the potential could be massive.