China’s equity markets recovered slightly yesterday from Wednesday’s decline thanks, it seems, to comments from the People’s Bank of China (PBoC) that the government would not rein in lending. Investors were reassured enough to help the Shanghai Composite Index close up 1.7% to 3,321.56 points, with steelmakers among the stronger performers. Spring Airlines is probably hoping that the rally lasts at least until it proceeds with plans to list on the Shanghai Stock Exchange. The airline says it might consider doing the same in Hong Kong. The capital raised will be used to fund the carrier’s expansion, including the introduction of new routes to Japan, South Korea, and Russia as well as the Hong Kong and Macau SARs. China Investment Corp (CIC) is also expanding its range of investments. The sovereign-wealth fund has reportedly engaged Morgan Stanley and a unit of Blackstone Group to oversee more than US$500 million in private-fund investments. The Blackstone unit will supposedly be investing CIC’s money in a number of hedge funds as CIC moves to take advantage of better global market conditions.