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Zhu Rongji, former Chinese Premier who shaped global trade, dies at 97

Zhu Rongji, who served as China's Premier from 1998 to 2003 and was instrumental in the country's entry into the World Trade Organization, has died at the age of 97.

  • Zhu Rongji served as China's Premier from 1998-2003.
  • He played a key role in securing China's entry into the World Trade Organization in 2002.
  • His reforms included moving local tax powers to the central government and promoting home ownership.

Former Chinese Premier Zhu Rongji, credited with spearheading China's entry into global trade and laying the groundwork for its significant economic expansion, has died at 97. He held the country's second-highest office between 1998 and 2003.

During his tenure, Mr Zhu was a leading figure in China's accession to the World Trade Organization in 2002. This move opened Chinese factories to international markets and attracted foreign investment.

Mr Zhu was a significant economic reformer, implementing policies such as transferring local tax powers to the central government, closing or privatising failing state firms, and encouraging home ownership. These reforms, however, also led to an estimated 30 million lay-offs over five years and an increase in inequality.

He was known for his direct approach, once describing rogue bankers as "half-wits" and criticising the quality of Yangtze River flood defences. Chinese state media has described his life as one of "revolution, struggle and brilliance."

Why this matters: Zhu Rongji's leadership and reforms were pivotal in transforming China into a major manufacturing and trading power on the global stage.

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