Well, sort of.
Their Chinese search site, google.cn now redirects to google.com.hk in Hong Kong. Google states that this is a direct response to the hacking attack reported on in January. They also state that that was the final straw that led them to the decision to stop censoring their search services in China.
By redirecting searches to their Hong Kong site, they hope to bypass Chinese legal requirements of self censorship. It will be interesting to see how the Chinese government responds to this. Google has set up a status page which reports on the availability on their services for users in China. You can find it here.