Vector Quantized Variational Autoencoders (VQ-VAEs) are fundamental models that compress continuous visual data into discrete tokens. Existing methods have tried to improve the quantization strategy for better reconstruction quality, however, there still exists a large gap between VQ-VAEs and VAEs. To narrow this gap, we propose \NickName, a novel method to augment the representation capability of discrete codebooks, facilitating easier optimization for codebooks and minimizing information loss, thereby enhancing reconstruction quality. Specifically, we propose to retain the latent dimension to preserve encoded features and incorporate a set of sub-codebooks for quantization. Furthermore, we construct comprehensive zero-shot benchmarks featuring resolutions of 512p and 2k to evaluate the reconstruction performance of existing methods rigorously. \NickName~achieves the \textbf{state-of-the-art performance on both ImageNet and $8$ zero-shot benchmarks} across all VQ-VAEs. Notably, compared with SD-VAE, we outperform them on ImageNet significantly, with rFID $\textbf{0.49}$ v.s. $\textbf{0.91}$, and achieve superior PSNR on all zero-shot benchmarks. These results highlight the superiority of \NickName~in reconstruction and pave the way for preserving fidelity in HD image processing tasks. Code will be publicly available at https://github.com/MKJia/MGVQ.

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