The CH-DVD Format
CH-DVD (China High Definition DVD) is a high-definition DVD format released in September 2007. This format is based on HD-DVD technology (although the two are not compatible) as well as Chinese-owned intellectual property.
CH-DVD was developed by the Optical Memory National Engineering Research Center (OMNERC) with support from the Chinese government. China intends making this the national default standard for high definition DVDs, with a big push to market in 2008.
This is not the first time China has attempted to combat the prevailing western disc formats. Their failed CVD (China Versatile Disc) and EVD (enhanced versatile disc) make a poor track record so they will need to do better with CH-DVD.
Coupled with the fact that Blu-ray and HD-DVD have already made a lot of ground, CH-DVD faces a very tough struggle in the western market. It seems highly unlikely that any Hollywood companies will release content for CH-DVD.
Of course the western market may not be CH-DVD's target. Even if the format could become standard in China, the country will save millions in licensing fees so it would be a solid investment. And there's always that national pride as a bonus.