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Condition monitoring and diagnosis (CMD) has proven effective in helping to ensure the safety of power grids. With development of the smart grid and ultra-high-voltage (UHV) transmission system, the demand for CMD systems has grown rapidly in China. In recent years many condition monitoring devices have been installed in the field, and much experience has been accumulated. At the same time, researchers and engineers have developed some novel sensors to overcome the drawbacks of the conventional devices. In addition, State Grid Corporation of China (SGCC) and China Southern Power Grid (CSG) have introduced more than 20 standards to regulate CMD systems in the field. In this paper some widely adopted and novel CMD devices specific to power transformers, gas-insulated systems (GIS), overhead transmission lines, and power cables are described, and the trends in CMD development are discussed.