There seem to be some really interesting (not to say wild) things coming out of China in terms of photography and art.
One a practical level, if you sell any kind of nice looking Dagor lens on ebay, chances are it will get snapped up from China with a high bid - Large Format cameras a selling very well to China (and they are producing many very nice cameras there as well - Shen Hao, Fotoman etc).
But there is a steady stream of photography which doesn't show any signs of slowing down. They've taken the Becher/Struthsky school approach and run with it. They've taken the contemporary portrait trend and given it their own twists. And there is stuff that's just plain crazy (cool crazy that is). I haven't picked any for this post, but there is a lot of conceptual mixed media and "performance" photography (it tends to makes Cindy Sherman and Jeff Wall look rather dull and staid)
I'm still finding it hard to get a handle on a lot of this, but I came across this site the other day. As well, individual photographers work seems to be showing up more and more on the blogs.
There is also the work of Peng & Chen who had their own edition of Colors all to themselves (Am I the only one that think that sounds like a pair of Vegas magicians...?). And Wengpei Jun's website here. PingMag also had a post on a new book on Chinese Photography
(Btw, does anyone else not quite get Colors? I want to like it - I've looked at it regularly since it first came out as the Benetton things years ago, but there's just something about it that doesn't persuade to fork over the dollars for a copy. Maybe time to take a closer look again?)