From a macro perspective, the Bloomberg copper index has finally begun rebounding from its lows, up $2 in the past few weeks. Cramer uses copper as a proxy for China because it is needed for new construction and building infrastructure.
The Baltic Freight index, which measures the cost of shipping bulk goods for many of China's imports, has also come roaring back.
"This is one of the best measures of China's economy out there, and it's giving us a pretty positive read for the first time in a long time," Cramer said.
Many companies that do business in China have had positive things to say, too. Though Nike was slammed on Wednesday, it did say that its Chinese business is strong. Starbucks and Yum Brands have had positive commentary surrounding the country, as well.
The most critical for Cramer was Caterpillar, which reported a 2 percent increase in total machine retail sales in Asia, though it was slammed everywhere else. This was a powerful sign to Cramer because of the earth-moving machinery that Caterpillar makes.
"Lately we have seen a number of signs that make me think the Chinese economy could be picking up steam, and just the possibility of a turn in China is an incredibly bullish development," Cramer said.