The latest numbers coming out of China are pointing at a turnaround within one of the world’s largest economies. Chinese ETFs have made big strides since September although they’ve been caught in the recent risk-off bout gripping global markets.

“Monthly indicators for October should continue to support our view that the Chinese economy will rebound sharply in Q4,” said a report from Nomura on Friday. The world’s second-largest economy grew 7.4% in the third quarter — the slowest rate since early 2009. But it’s expected to expand 8% in 2013. [China ETF Trading Picks up on Rally, Leadership Transition]

“It should be obvious that China’s economy has turned the corner. While we may not necessarily see gang buster growth, the risks of a hard landing are diminishing fast,” according to the Humble Student of the Markets blog.