Former Chinese Premier Zhu Rongji Dies At 97

Former Chinese premier Zhu Rongji, whose market-oriented reforms helped fuel China’s remarkable economic growth, has died at the age of 97.

In a report by AFP, Zhu died in Beijing on Wednesday morning after falling ill, according to an announcement by China’s state news agency, Xinhua.

Zhu became premier in 1998 and quickly established himself as a strong advocate of free-market reforms, overseeing sweeping changes to China’s economy.

Among his major reforms was a broad programme to privatise loss-making state-owned enterprises, alongside the privatisation of urban housing and efforts to promote home ownership.

His reforms contributed to a boom in China’s real estate and construction sectors, which later grew to account for about a quarter of the country’s economy before a severe debt crisis emerged in 2020.

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Zhu was also credited with helping China withstand the worst effects of the 1997 Asian financial crisis, at a time when economies across the region were facing severe economic pressure.

He also played a leading role in negotiations that resulted in China joining the World Trade Organization in 2001, a development widely regarded as a major step in the country’s transformation into a global trading power.

Xinhua published an obituary describing Zhu’s life as one devoted to the Communist Party and service to the Chinese people, while mourning his death as a major loss to the party and the country.

The obituary also called on the Chinese people to draw strength from Zhu’s revolutionary spirit, character and conduct while remaining united around the Communist Party Central Committee under President Xi Jinping.

News of Zhu’s death quickly became one of the top trending topics on Weibo, with the subject attracting more than 190 million views within hours of the announcement.

Tributes poured in from users on the platform, with one commenter describing Zhu as “the people’s good premier” and wishing him peace, while others posted candle emojis in his memory.