Chinese wind-power stocks, once given up for dead in the investor doldrums, have roared back to life in recent weeks on expectations of government support for the renewable energy sector and overseas demand.

Investors are betting on future Chinese government policy directives and subsidies that boost profits for manufacturers of wind power turbines, gearboxes, blades, towers and transmission equipment.

They're also betting that multinational wind energy companies such as Vestas,  Siemens,General Electric and Senvion will step up orders for the Chinese-made equipment and parts that are used to build offshore and onshore wind energy farms worldwide.

Contractors building big wind farms, particularly those off the European coast, often buy lower-rung products such as steel towers from China. And tower fabricators such as China's Titan Wind (002531:Shenzhen) are making good money on that demand.

Shenzhen-listed Titan, which is only nine years old and listed in 2010, has seen its stock value climb 55% since the beginning of the year. The company has gotten major contracts from Vestas and GE. And it's currently planning to build a factory in India to complement existing plants in China and Denmark.