Fans of the Xbox One in China can rejoice as the country has approved the sale of 5 million units of the popular gaming console, which was launched in Nov. 2013 for the Western markets.

Earlier in July this year, Microsoft along with its Chinese partner BesTV announced that it would launch the Chinese variant of the Xbox One in the region on Sept. 23. The release of the Xbox One would make it the first foreign gaming console to go on sale in China after the country removed the 13-year old ban on import of the same.

"We're honored that Xbox One is the first console approved for sale in China through the Shanghai Free Trade Zone," said Yusuf Mehdi, Microsoft's corporate VP of marketing for Devices and Studios, at the time. "We're dedicated to earning millions of fans in China by working with BesTV to deliver an all in one games and entertainment experience starting September 23."

With China giving the green signal for the sale of 5 million Xbox units, Microsoft can gear up to capture the burgeoning Chinese gaming market. The approved sales units figure was revealed by BesTV on Tuesday, Aug. 19, in an earnings statement.

However, the Chinese variant of the Xbox One, will be priced at 3,699 yuan (approximately $600), making the device $200 more expensive than its U.S. counterpart.

Even though the pricing of the gaming console is seen as slightly steep, experts are of the opinion that despite this factor, the Xbox One will generate ample sales. Per BesTV, industry experts project that the console gaming market in China has the potential to generate sales of over 50 million units in just five years.

Factors that favor this growth include government support as indicated by the 5 million units sale approval. Moreover, Microsoft and BesTV are working in tandem to bring on board local developers to make games, as well as tap local vendors for the sale of the gaming consoles in the country.

The Xbox One will bring over 70 different types of games for its Chinese consumers that include, free games, movies, documentaries, TV shows and blockbuster titles. Chinese consumers will also have the option to pick from local-created apps. Popular gaming titles like Forza Motorsport 5, Zoo Tycoon, Powerstar Golf and more are slated to be made available at launch day itself.