There appears to be some good news regarding the video codec for CBHD. According to Wikipedia, the AVS video codec will be used. This appears to be an open-source codec, though my failure to be able to read Chinese currently frustrates my ability to download it.
A Chinese company called DigiRise will be providing the DRA audio codec which does not appear at this time to be open source.
All of this is a culmination of a Chinese effort to circumvent western licensing restrictions by using home-grown or at least home-owned technology. This means that CBHD will be able to remove licensing fees for Sony's patents, Dolby, DTS, etc. The net result will likely be lower prices for consumers.