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The MSCI China index, which tracks large- and mid-cap Chinese companies, trades at eight times next year's earnings, about a third below its 10-year average.
WSJ: With Bad News Pouring Out Of China, Fund Managers Rush In
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Click here for more Chinese and small-cap growth recommendations in the Oberweis Report.
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Renren is now the fifth-largest Chinese Internet company by market cap.
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For instance, investors are wary of recent rumblings out of Chinese government officials calling for a cap on the number of table games in Macau.
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The U.S. gross domestic product has expanded by greater than the size of the entire Chinese economy since the 2003 tax cuts on income, dividends and cap gains.
FORBES: 2007: Year The Dam Breaks?
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Chinese equities have performed horribly this year, with the FXI 25-large cap ETF down more than 20% year-to-date.
FORBES: China Waking Up? Central Bank Now Selling Forex Reserves To Support Yuan
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Industry groups blame Chinese media restrictions, which censor content, limit the number of channels available and cap the amount of foreign programming.
WSJ: Streaming Video Fills Hole Left by TV in China