Cramer has been buying the iShares FTSE/Xinhua China Index for his action alerts plus portfolio for a broad play on a recovery in the Far East. Frank Curzio also likes the FXI for a large cap play on China.

Frank Curzio likes China Security and Surveillance (CSR). He mentioned the stock is trading at two times earnings and insiders have been buying shares. He told investors to wait for a pullback before buying.

Another stock Frank Curzio has on his radar is China Fire & Security Group (CFSG). The company provides fire detection systems and already has a lot of contracts in place.

Another cheap play Curzio likes. Gushan Environmental is a biodiesel producer in China.

Curzio holds WSB Holdings in his stocks under $10 portfolio. He says the company has a great balance sheet and trades at a cheap valuation.

Frank Curzio likes Microsoft for a large cap play in China. The country is cracking down on piracy after a major arrest involving bootlegged copies of MSFT's office products.

Google could also benefit from the crackdown on software piracy. Baidu.com (BIDU), a major competitor to Google in China, is likely to come under increased scrutiny for pointing searches to illegal MP3 websites.

Google could also benefit from the crackdown on software piracy. Baidu.com (BIDU), a major competitor to Google in China, is likely to come under increased scrutiny for pointing searches to illegal MP3 websites.