Yes and No, depend on your income

Most Chinese are not eligible for the Traditional IRA since the limit is too low.

If your AGI (Adjust Gross Income, after 401k, Capital Gain ...) is less than $95000, you can contribute to Roth IRA for $4000 in 2006. Check the following link for details in 2007

http://www.fool.com/ira/ira02.htm