China's ban on PlayStation, Wii and Xbox
A couple of days back there were some rumors going on that China might lift ban on gaming systems like Playstation, Wii and Xbox. These rumors started from officialChina Daily newspaper. This caused a spike in the shares of Microsoft & Sony as China has the potential to become the largest market for these products in the whole world.But earlier today these rumors were shot down when China's ministry of culture ssaid that it is not considering lifting nationwide ban on videogame consoles, according to Tech in Asia.
Gaming consoles such as Playstation, Wii and Xbox were banned in China in the year 2000 by the government to safeguard children's mental and physical development. Previously China Daily quoted that an unnamed source from the ministry of culture quotes: "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."
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