Online gaming in China is very much growing with a 63% increase in revenue in 2008 compared to the revenue generated in 2007. The big two China gaming companies are Netease and Shanda with Netease's Fantasy Westward Journey being the most popular online game in the country. Baidu is a search company, the Chinese Google, while Sina is a combination of five different online companies with a focus on media. The companies each saw revenue for the past year in the range of $370 million to $522 million.

Netease (NTES)

Netease has a current price/earnings ratio around 30 while the revenue for the year is growing at 18% and the earnings expanding at a rate of 12%. If you feel there is clear earnings growth beyond the current 12%, NTES could be a decent China play for your portfolio. Analyst are pushing their estimates higher to a small degree which bodes well for some contained price action higher.