I have wriiten so much about Huaneng Power International ADR (NYSE: HNP) that I am not sure there is much more to say. This is another one in my must-own category, so it is just a matter of when you get in. Most of my sentiments can be found in Volatile Markets: Huaneng Power (HNP) is my pick for the next 50 years.

HNP pays a sizable 3.6% dividend yield and has plenty of room to run. It has come down a lot with the rest of the inflated Chinese stock market, but this one is not threatened by competition and is a good long-term value. It is the largest utility company in China, entrenched in government projects and receives support that would be full of conflicts of interest in a western economy.

I have made the case recently that electric utilities have been great investments over the long term in Serious Money: Electric utilities are the place to be, and I am still a believer. China's growth curve will continue to dwarf that of the United States. It takes electricity for all the things you know about and many you do not. I am not sure that the average investor is aware for example that the production of aluminum consumes a lot of electricity. And it is being used in increasing amounts as reducing energy costs often means reducing weight.

Aluminum is used in windows, cars, planes, electronics, and this is a great trend to follow as well. One of my top picks last year was Aluminum Corp of China ADS (NYSE: ACH), and I would have included it here if not for its sky-high price.