An anonymous government source told China Daily that the ban is under review, but that the seven ministries which enacted it because of fears of potential harm to the young would need to agree to ending it if the market is to be opened up to game consoles again.
"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 source from the Ministry of Culture 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."
Sony and Nintendo shares rose on the back of the report. According to Bloomberg, the former's stock jumped 9.1 percent in Tokyo trading to 1,407 yen, the highest since April 2012, while the latter's increased 3.4 percent to 9,630 yen in Osaka, the highest since December 7.