If there's one thing you can count on in this market it is China stocks. In my view, they remain some of the most attractive speculative equity securities available right now.

Now, take this view with a grain of salt. Only some China-based companies that are listed on American exchanges are worth speculating on. Generally speaking, however, the growth prospects of China-based stocks makes for some really attractive risk-capital opportunities.

A company that remains one of the most interesting pure play China opportunities is Focus Media Holding Ltd. (NASDAQ/FMCN). The stock has more than tripled since it listed on the NASDAQ last year and it may just keep its solid upward trend for the foreseeable future.

This innovative and entrepreneurial company operates the largest network of flat-screen televisions in China. These televisions are strategically placed in urban areas and provide targeted advertising to white collar workers. The company even places its advertising screens in grocery stores and office buildings.

The company either has bought or is looking to buy up its competition, and its financial growth has been very impressive to date. It's no wonder then that this stock is experiencing major price appreciation. It's also no wonder that all sorts of Chinese companies are listing their shares on American exchanges because investor appetite for anything related to the China growth story is very strong.

Focus Media Holding is still a young company, but it is one that should already be a case study in business schools. The company's business plan is sound and most importantly, its operating a great business at the exact right time when the marketplace wants to reward its success. Focus Media Holding is a great business example of an entrepreneurial company doing its absolute best at the right place and the right time. From what I can tell, it will continue to be a great success going forward.