This Day, That Year

Item from Sept 7, 1997, in China Daily: A new painting line lies idle at China Jiangnan Space Industry Co Group in Zunyi, Guizhou province. A market slump has caused the truck and minivan maker to lose money.

The State is considering propping up its fragile auto industry by forming three or four conglomerates through restructuring ... Industry insiders said the latest move to improve the sector showed that the government had begun to rationalize its scattered, inefficient structure.

In early June, Chinese rail majors CSR Corp and CNR Corp merged to form the conglomerate CRRC Corp.