With the 13-year ban on gaming consoles now lifted in China, Microsoft are set to capitalise on the new changes by partnering with Chinese media company BesTV according to a report by Xinhua News (via Polygon).

The report indicates that the new deal comes at an investment total of $237 million, with BesTV holding a 51 percent stake in the company and Microsoft holding 49 percent. BesTV is known for its manufacturing and distribution of electronic products including smart TVs as well as entertainment services.

"This is the first step of many to come for Microsoft and BesTV," a spokesperson for Microsoft told Polygon. "We look forward to exploring new opportunities for bringing entertainment offerings to China, but we have no further details to share."