The Maanshan Iron and Steel Company in Maanshan, central China's Anhui province. - 

It may be too early to say the Chinese economy is bouncing back, but there is some good news this morning on the world's second largest economy.

According to the British bank HSBC, a measure of manufacturing activity in China rose in October to a three-month high. The United Nations is also reporting that China passed the US as the top recipient of foreign direct investment in the first half of the year. That's the first time that's happened since 2003.