Recent advances in generative compression methods have demonstrated remarkable progress in enhancing the perceptual quality of compressed data, especially in scenarios with low bitrates. Nevertheless, their efficacy and applicability in achieving extreme compression ratios ($<0.1$ bpp) still remain constrained. In this work, we propose a simple yet effective coding framework by introducing vector quantization (VQ)-based generative models into the image compression domain. The main insight is that the codebook learned by the VQGAN model yields strong expressive capacity, facilitating efficient compression of continuous information in the latent space while maintaining reconstruction quality. Specifically, an image can be represented as VQ-indices by finding the nearest codeword, which can be encoded using lossless compression methods into bitstreams. We then propose clustering a pre-trained large-scale codebook into smaller codebooks using the K-means algorithm. This enables images to be represented as diverse ranges of VQ-indices maps, resulting in variable bitrates and different levels of reconstruction quality. Extensive qualitative and quantitative experiments on various datasets demonstrate that the proposed framework outperforms the state-of-the-art codecs in terms of perceptual quality-oriented metrics and human perception under extremely low bitrates.
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