After a long period of intense negotiations, agreement has been reached about the licensing conditions for Chinese DVD manufacturers for sale of DVD players both in and outside China. A Memorandum of Understanding has been signed between Koninklijke Philips Electronics N.V., on behalf of the so-called 3C (Philips, Sony and Pioneer), and the China Audio Industries Association (CAIA), which is also signed on behalf of the China Chamber of Commerce for Import & Export of Machinery & Electronic Products (CCCME).

This Memorandum of Understanding shall be the basis for license agreements to be signed with individual DVD player manufacturers in China.

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