Nick Farell wrote for The Inquirer that, Audio Video Coding Standard (AVS), a Chinese audio/video codec, is on the verge of becoming a national standard. According to the Electronic Times it will even take over from MPEG-4 and WMV-9.
"The Chinese are keen to resolve a problem that the government has had with having to rely on foreign Intellectual Property and developing its own standards does solve this."
Read more here and here.
China is developing its own RFID standard too, read more here.