The Tomahawk 1 will boast a Virtual Reality headset and will not feature a disc drive, with downloaded games instead stored directly on to a hard drive.
Fuze is hoping that the console, which has been compared to a PS4 with an Xbox controller, will outsell its competitors when it goes on sale in China on June 1 for just £96 ($NZ203).
An Elite version, with extra storage room, will set gamers back £160 ($NZ339).
CEO Wang Feng said: "When will China's games market - especially high-resolution consoles and high-performance consoles, the best products [out there] - be taken over by Chinese businesses?"
After a ban on game consoles, China legalised the domestic sale and manufacture of devices in early 2014, with both PS4 and Xbox One enjoying moderate success.
