Former Chinese premier Zhu Rongji has passed away at the age of 97, as reported by state media. The official Xinhua news agency announced that Zhu succumbed to an illness in Beijing around 11 a.m. on Wednesday. Known for his impatience and sharp-tongued demeanor, Zhu played a pivotal role in propelling China’s rapid economic growth by implementing significant reforms in the 1990s and steering the country into the World Trade Organization.
Despite facing challenges in his early career, including being exiled to rural areas for supporting reforms in other communist nations, Zhu spearheaded a series of transformative initiatives during his tenure as premier from 1998 to 2003. His firm stance on restructuring state-owned enterprises to enhance efficiency and profitability led to millions of job cuts but ultimately propelled China to surpass Japan as the world’s second-largest economy after the United States in 2010.
Building upon Deng Xiaoping’s reforms in 1979, Zhu played a pivotal role in ushering China into the World Trade Organization, a move that bolstered the country’s status as the world’s largest exporter. These reforms contributed to sustaining economic growth above eight percent annually from 2000 to 2010, with a peak of 14.2 percent in 2007.
Despite his tough approach and earned nicknames like “Boss” and “Madman Zhu,” he gained popularity for his transparency and willingness to take responsibility for government shortcomings. Zhu’s significant contributions included kickstarting China’s real estate boom in 1998 by introducing a program to sell state-owned apartments, leading to a significant shift towards private homeownership in urban areas.
Born in Mao Zedong’s home province of Hunan on October 23, 1928, Zhu’s career witnessed a resurgence after a period of political exile during the Cultural Revolution. Known for his moderate approach as the mayor of Shanghai in 1989, Zhu’s rise continued as he took on key roles in the Chinese government, culminating in his appointment as premier in 1998.
Zhu’s legacy as a reformer was marked by his ability to navigate complex negotiations, secure China’s WTO membership, and introduce critical economic policies that shaped the nation’s growth trajectory. His willingness to admit government failings and his efforts to enforce fiscal discipline through innovative tax reforms left a lasting impact on China’s economic landscape.