also have Channel V
Speaking from my own experience (with Channel V Taiwan), Channel V plays a very limited selection of videos over and over again.
The songs are mainly in Mandarin, with English as #2 most often played. There are also Japanese, Korean and Thai shows on once a week or so.
The play lists on Channel V are so short, you can sometimes see the same video twice within one hour, on the other hand they do play music videos and that is where the focus is unlike MTV.
Like MTV there are VJ's, including David Wu, Angela, Michelle and Jason Tang