AVS File Format

"Audio Video Standard, or AVS, is a compression codec for digital audio and video, and is competing with H.264/AAC to potentially replace MPEG-2. Chinese companies own 90% of AVS patents. The audio and video files have an .avs extension as a container format, and the designers claim that it will have twice the efficiency of MPEG2."

Hmmm, I've learned something today. More here and here.

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