"No one is more anxiously aware of the vital role of oil in running a modern industrial state than China; and when China goes looking for oil outside its own land mass, it's CNOOC Ltd. (CEO) that's carrying the checkbook," says Paul Goodwin.

The editor of Cabot China & Emerging Markets Report explains, "Short for Chinese National Offshore Oil Corporation, CNOOC was founded in 1982, and spent most of its early years exploring, drilling and pumping oil from Bohai Bay and the South China Sea.

This post is part of a 12 articles feature on the best bets for investing in China. To see all the other recommendations in this special report, click here.

"Amidst all the concern about the U.S. economy and stock market, investors may gain some solace, as well as profits, by looking east-to China, where there are signs the huge government stimulus is bearing fruit," explains Stephen Leeb.

In The Complete Investor, he adds, "For income investors, it makes good sense to own carefully selected dividend-generating Chinese securities such as PetroChina (NYSE: PTR) and China National Offshore Oil Corp. (NYSE: CEO).

Here, the growth and income advisor reviews the two Asian energy plays.