Mindray Medical is a chinese medical device maker, that primarily manufactures patient monitoring and imaging systems. Earnings growth in the most recent quarter was 40%, while revenues grew by 30%. More importantly, the company guided higher on both annual revenues and earnings. MR has almost no debt, and trades at a reasonable 30 times earnings. For the last 6 months, MR has been forming a base. I like the stock at these levels, considering that earnings are projected to grow 30% annually for the next few years.

China Life Insurance is the largest insurance provider in China, a country where insurance coverage among the citizens of China is relatively new. Indeed the concept of having life and health insurance is not as mainstream in China as in the US. And with the largest population in the world, China is a great growth market for insurance. LFC has over $11 billion in cash and has diversified their investments across other industries including construction, banking and power generation. I like this stock here despite high valuations.

China Mobile is the world's largest mobile-phone company by users. In April, the company added a 5.28 million users, a record number of subscribers for a ninth consecutive month. This on the tails of a record March, when they added 5.12 million users. For the fourth quarter ending March, they added over 14 million subscribers and April's number puts them at a total subscriber base of 321.4 million, more than the entire US population. With 70% market share, CHL continues to take market share from land line providers. Even with their recent aggressive push to gain market share by adding new features and low costs to their customers, CHL has margins of over 50%. I want to mention here that average monthly revenue per subscriber did fall about 13% in the most recent quarter, even as earnings grw 22% and revenues increased 19%. The drop in average revenue per customer is directly tied to the addition of low end users to China Mobile's portfolio. The one challenge that the company faces is the probably expansion of China's land line network (sponsored by the Chinese government) and the issuance of 3G licenses to land line competitors like China Telecom (CHA) and China Netcom (CN). However, this will probably not happen until sometime in 2008. I believe CHL is a strong company in a growing market.

China Southern Airlines - ZNH is China's the biggest carrier by fleet size. Last week, the company announced plans to buy 20 A320 jets from Airbus and 25 B737-800 planes from Boeing (BA). With the 2008 olympics a javelin throw away (sorry I couldn't help it), travel to China is far from where it will be next year and the following years. Granted that fuel prices are historically high, it is that time of the year when the airline sector should begin to rally.

In the most recent quarter ending March 31st, the company's net sales increased by 54.5% to $30.1 million, which included a 40% increase from hotel reservations and a 64% increase in airline ticket sales. Additionally, the company is projecting revenue growth north of 30% going forward, and has recently entered a limo business in the major cities in China. Ctrip.com also does not have any debt and with travel to China on the rise, and most of the travel business still taking place offline, CTRP has plenty of room to grow.

New Oriental Education - EDU is China's largest English-language and test-preparation provider by revenue, which operates 128 schools in 34 cities. the company plans to add another 24 to 31 such schools by this time next year. According to the Wall Street Journal, New Oriental is market leader with about 5% of China's language-teaching business, analysts say, putting it ahead of competitors in a highly fragmented sector with some 50,000 companies. China's English-language teaching sector may have revenue of $3.9 billion by 2010, analysts estimate. The stock is up 150% in the last year but has dipped 10% below its high of $60. At any dip, I recommend buying.

There is not much more to say about Bidu.com (BIDU), except that this is the Google of China, and has been really taking it to Google in China, accounting for over 50% of online searches in China. With only 10% of the Chinese market online, the company has amazed investors by churning out triple digit earnings and revenue growth.

The9 Limited is a Shanghai based online games provider that focuses on multi-player online role playing games for Chinese online gamers. The company has licenses for popular titles like World of Warcraft and Guild Wars. As mentioned earlier, only 10% of China is online, so these guys have the opportunity for tremendous growth. If you take out the $5 per share that they have on their books, the stock trades at a paltry 13 times forward earnings. These are extremely low valuations considering that the company is growing earnings at over 50% and the PEG ratio sits at under 0.80. While the company is set to report earnings on Monday, the quarter that ended in December of 2006 saw them beat analyst EPS expectations by over 45%. In fact, for at least the last 4 quarters, they have beaten analyst estimates. As an added incentive the stock has retreated 10% off its recent highs and with new popular titles currently under development, I recommend buying this stock at these levels.