Source 1: http://in.reuters.com/article/2014/01/07/china-gamesconsoles-idINL3N0KH15920140107
Source 2: http://www.escapistmagazine.com/news/view/131078-China-Lifts-Ban-on-Sale-and-Production-of-Consoles
Source 3: http://www.computerandvideogames.com/444044/china-lifts-ban-on-foreign-game-consoles/
From the Reuters article:
[quote]China's State Council has temporarily lifted a ban on the sale of foreign games consoles, paving the way for firms like Sony Corp, Microsoft Corp and Nintendo Co Ltd to enter a multi-billion dollar video game market.
The suspension of the 14-year-old ban permits "foreign-invested enterprises" to make games consoles within Shanghai's free trade zone and sell them in China, providing they gain government approval, the government said in a statement posted on its website on Monday.
The statement gave no further details.
[/quote]
This move will undoubtedly greatly improve China's economy, I can tell you that right now. For companies such as Sony and Nintendo who are really hurting right now, this is a great opportunity for them to launch their consoles in China, and potentially rake in billions of Dollars (or well, Yen, in their case). Microsoft I'm sure will also attempt to move into the market, but I can't see them having a huge impact since it's an Asian country.
So the Chinese people may side with a more Asian company such as Sony or Nintendo, but there's the problem that they're Japanese companies, and with the whole dispute going on between China and Japan at the moment, that may hurt their sales in the market and POTENTIALLY give Microsoft a greater market share in China.
So China, get your game on, while it's legal.
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Even if the Chinese are still somewhat Communists.. every human deserves a chance to enjoy great video games :P