Considering the recent lift of the console ban in China, Sony, Microsoft, and Nintendo have all been gearing up to launch their respective consoles in the country. A recent Chinese advertisement for the Xbox One lists the retail price at 4,999 RMB, which translates to just over $800.
Judging from the ad, it seems that the price will get you an Xbox One with Kinect, but it may also be associated with bundled games or added TV subscriptions/content stemming from Microsoft’s partnership with BesTV to launch the console. Microsoft may eventually also offer the console without the Kinect or bundled games and services once the partnership has expired, but we'll have to wait a little longer to know for sure. The console is expected to launch in China later this year.
China is a massive market which is about to get their first taste of console entertainment in 13 years. So Microsoft should be wary to not repeat the pricing mistakes they made with the console in the past and leave Sony cheering again.