BTC-E has become the largest non-Chinese exchange, which is if you think about it quite telling.
Not because they are so awesome, but because they are still left relatively un-scorched.
So you count bitfinex as a chinese exchange? Hong Kong is technically china but its kind of different to the mainland.
I sort of forgot about bitfinex because I see them more of a leveraging platform, but yes they are an exchange, they take USD so perhaps they should be counted as largest exchange not depending on people trading BTC for CNY.
Kind of OT, Hong Kong is Chinas main export valve. May of the things we take for granted coming out of Chinese production are funneled through it.