If this gamble pays off, it could mean a ton of money for Sony.
China has got to be an awfully tempting game market to break into, so it's not terribly surprising that Sony Computer Entertainment's Asian wing is planning to make headway into the region. The company's revealed that it's officially set its sights on the country, so it's about to start on training and R&D programs that will eventually lead to "homegrown game development projects."
The major thrust of this project sounds like it's going to be an attempt to launch PlayStation hardware in the country. This may not sound like that big of a deal, but China is a notoriously difficult console market because both of government restrictions and extremely high piracy rates.
The program is set to start in the Guandong province and Sony is partnering with Guandong Animation City (which is contributing $227 million to the project). The aforementioned development projects will apparently feature "Chinese elements" that will hopefully feature international appeal. As a result, projections for this new venture estimate that it will generate $15 billion within the next five years (provided it turns out to be successful).