As a Chinese gamer and developer, I can bet this will have little impact on Microsoft and Sony's console business. Although hardware ban is lifted, game software still need to be approved by multiple government agencies before they can hit store shelves. These agencies are not ESRBs, the rules they follow to green light a game are ridiculous (e.g. Blizzard was forced to replace all skeleton props in WoW with... sacks). Take the piracy rate into consideration, for western publishers, the extra sales generated by selling their products in China may not worth the extra effort required to make a censored SKU.
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