Former Chinese premier Zhu Rongji has passed away at the age of 97, as reported by state media. The official Xinhua news agency announced his death in Beijing on Wednesday morning due to an illness. Zhu, known for his assertive and direct reformist approach, played a pivotal role in China’s economic transformation during the 1990s, ushering in significant changes in state industries and guiding the country’s entry into the World Trade Organization.
Despite facing challenges and resistance, Zhu spearheaded a series of reforms as premier from 1998 to 2003, aimed at enhancing the efficiency and profitability of state-owned enterprises. These reforms led to millions of job cuts but ultimately contributed to China surpassing Japan as the world’s second-largest economy after the United States in 2010.
Credited with building on Deng Xiaoping’s economic reforms from 1979, Zhu was instrumental in securing China’s membership in the WTO, a milestone that propelled China’s status as a global economic powerhouse and top exporter. Under his leadership, China experienced robust economic growth, maintaining a growth rate above eight percent annually from 2000 to 2010, reaching a peak of 14.2 percent in 2007.
As a prominent figure in the Communist Party hierarchy, Zhu earned a reputation for his no-nonsense approach, earning nicknames such as “Boss” and “Madman Zhu.” Despite his tough demeanor, Zhu was known for holding himself accountable, famously stating in 1998 that he had prepared 100 coffins, reserving one for himself and the rest for corrupt officials.
Zhu’s legacy also includes initiating China’s housing boom in 1998 by promoting the sale of state-owned apartments, leading to a significant shift towards private homeownership in urban areas. While advocating for market-oriented reforms, Zhu emphasized retaining government ownership in key sectors like banks and airlines.
Born in Hunan province in 1928, Zhu’s early career faced setbacks due to political labeling during the Cultural Revolution. However, his swift rise in the political arena saw him take on key roles in Shanghai and later in national leadership positions, where he continued to advocate for economic reforms and transparency.
Throughout his career, Zhu was known for his candor and willingness to take responsibility for official shortcomings, a trait that set him apart from traditional party leaders. His leadership style, marked by pragmatism and a commitment to reform, left a lasting impact on China’s economic landscape and international relations.