"That's why you should buy a few shares of Huaneng Power, one of the largest power producers in China.

"Last year, Huaneng increased domestic power generation 6.3%. And last month, it announced it received approval for two new 300 megawatt units at its Yingkou plant.

"With plants in Shanghai and Chongqing municipalities, as well as Lianoning, Hebei, Shanxi, Shandong, Henan, Fujian, Jiangsu, Zhejiang, Guangdong, Jiangxi, Gansu and Hunang provinces, its capacity exceeds 36,000 megawatts.

"Huaneng has been growing rapidly for years through acquisitions. Now, it also is taking the lead on forays into new clean-coal and nuclear power technologies.

"This is important. China is now the largest emitter of carbon dioxide in the world. Its factories, cities and enormous demand for natural resources have taken a severe toll on the country -- tainting the environment.

"But Huaneng is at work meeting China's tremendous thirst for energy and building the country's first zero-emissions coal-fired power plants.

"It is true that the company was hit by higher raw material costs in 2008. But Huaneng is a solid company. Over the last 52 weeks, Huaneng has fallen just 11% vs. 47% for the S&P 500. Moreover, its fuel costs will be lower this year.

"With domestic demand for power growing -- tens of thousands of Chinese still are moving to urban areas every day -- this is an excellent, recession-resistant China play. And we'll be collecting a 6.5% dividend here, too."

Steven Halpern's TheStockAdvisors.com offers a daily look at the latest market commentary and favorite stock picks and investment ideas from the nation's leading financial newsletter advisors.