Play China With These High-Yield Names

Updated from 9:59 a.m. EDT

With all the attention being focused on the 2008 Olympics in Beijing, investors are also refocusing on Chinese stocks. However, in order to reduce risk, investors prefer the stocks that pay dividends.

So we thought we would at least provide a snapshot of the top-yielding Chinese stocks.

While you have to consider more than just yield, especially when considering Chinese companies, it is not a bad place to start given the volatility in that market.

If you are looking to diversify out of the U.S. and are considering China, take a look at some of these names, including China Telecom(CHA Quote), Yazhou Coal Mining(YZC Quote) and Petrochina(PTR Quote).

For more ideas on how to diversify out of the U.S. and into China, please click here.

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A note from James Altucher:

Every weekend I send an email to Jim Cramer and several hedge fund managers about the most interesting portfolios posted on Stockpickr that week. Usually those portfolios not only list stocks according to a theme but also offer significant analysis as to why the stocks are cheap.

Here are some examples:

• Stocks related to drilling the Marcellus Shale
• MLPS with yields above 7%
• Microcaps trading for less than tangible book
• Stocks that do well after Hurricanes

Here's the challenge: Build a portfolio at Stockpickr.com with great analysis, and send me the link. Each great portfolio (with analysis) will get posted on TheStreet.com with your byline (as a "Stockpickr Guest Columnist") and will be included in my email I send to Jim and the other hedge fund managers on my list.