Former Chinese Premier Zhu Rongji, Known For Reshaping China’s Economy And Opening Up Dies at 97

Former Chinese Premier Zhu Rongji, who played a central role in reshaping China’s economy and opening it to global markets, has died at the age of 97.

Zhu served as premier from 1998 to 2003, a period marked by sweeping economic changes. He was known for confronting corruption, reforming the country’s centrally planned economic system and restructuring state-owned enterprises.

One of his most significant achievements was helping steer China towards membership of the World Trade Organization in 2001 after lengthy and difficult negotiations. The move accelerated the country’s integration into the global economy and brought major changes to its domestic economic system.

Zhu also played important roles during two major events in China’s recent history. He was involved in the preparations surrounding Hong Kong’s return to Chinese rule in 1997 and helped guide Beijing’s response to the Asian financial crisis that same year.

In its obituary released on Wednesday, China’s state news agency Xinhua praised Zhu as an “outstanding” Communist Party member and statesman, crediting him with helping maintain economic growth during the Asian financial crisis.

His administration introduced reforms aimed at giving state-owned companies clearer property rights while separating government responsibilities from business operations.

Zhu’s legacy has remained closely associated with the bold economic reforms of the 1990s and early 2000s, which helped transform China into a major force in the global economy.