China announced Saturday that it would be ending a ban on video game consoles in the country. The announcement opens a huge opportunity for companies like Microsoft, Sony and Nintendo.

The production of video game consoles in China was banned in 2000, when seven central government ministries passed the ruling. They pushed the ban of production, except for those that will be exported, because of the detrimental and violent content of the games. Sony, Nintendo and Microsoft are still assembling their video game consoles in China. Despite the ban, some Chinese video game fans are still able to get their hands on them through black market sales and piracy.

China lifted the 14-year-old ban on video game consoles last year, only if they are made from Shanghai and approved by culture ministry and other relevant government bodies, as HNGN previously reported.

The latest announcement would allow the companies to manufacture and sell their video game consoles anywhere in the country. New rules will apply to both foreign and local console makers, according to The Wall Street Journal.

"This is great news for us," a Sony Computer Entertainment spokeswoman said.

Nintendo and Microsoft were not immediately available for comments.

China is the largest market for gaming, worth $6 billion in 2011, and this is expected to reach $22.2 billion this year now that the ban is lifted.