Weight of history: Chongqing Steel and China's state sector dilemma
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CHONGQING, China (Reuters) - A year and a half ago, Chongqing Iron and Steel Corp (CISC) , China's oldest steelmaker, was rescued from the brink of bankruptcy in a deal hailed as a shining example of how struggling state companies can be revamped.Today it is profitable and earned 616 million yuan (72 million pounds) in net income in the first half of 2019.Chongqing Steel's saviour: Four Rivers Investment Management, a private equity fund established in August 2017 by China's biggest steel..