Zhu Rongji, China’s chief engineer of economic reform and former premier, dies aged 97

Zhu, who served as China’s premier from 1998 to 2003, is remembered for tackling corruption, shaking up the centrally planned economy and overhauling the state-owned enterprise (SOE) sector.He was the mastermind behind negotiations for China’s World Trade Organization (WTO) entry in 2001, which opened China up to the international market and ushered in major changes in the Chinese economy.Zhu Rongji helped drive China’s entry into the World Trade Organization. Photo: ReutersZhu also played a key role ensuring the smooth handover of Hong Kong in 1997 and led Beijing’s handling of the Asian financial crisis that same year.The official obituary released by state news agency Xinhua on Wednesday described Zhu as “an outstanding member of the Communist Party, a long-tested and loyal Communist fighter, an outstanding proletarian revolutionary and statesman, and an exceptional leader of the party and the state”.It credits him with helping the country navigate through the immense impact of the Asian financial crisis and “resolutely safeguard the prosperity and stability of Hong Kong as an international financial centre”. It also noted that he had shifted to proactive fiscal and monetary policies to maintain stable and rapid economic growth.Xinhua’s obituary highlighted Zhu’s role in advancing economic system reform, pointing to his overhaul of state-owned enterprises, where he prioritised clearer property rights and separating government functions from business operations.The statement also shed light on his instrumental work in leading the “arduous negotiations” that secured China’s entry into the WTO, a move that reshaped the country’s integration into the global economy.Following his retirement from the premiership in March 2003, Zhu continued to support central authorities under the leadership of Hu Jintao and Xi Jinping, according to the obituary.“He remained concerned about the great cause of socialism with Chinese characteristics and firmly supported the building of party conduct and integrity and the fight against corruption,” it read.Chinese Premier Zhu Rongji concludes his final report to the annual session of the National People’s Congress in Beijing March 5, 2003. Photo: ReutersIn the 1990s, when China’s high inflation, mounting debt and SOE losses threatened financial stability, Zhu targeted the risks by centralising fiscal policy, cutting red tape and closing or privatising failing enterprises.Further ReadingWednesday’s official obituary praised him for promoting the re-employment of laid-off and unemployed workers and strengthening the social-security system.Born in 1928 in Changsha, the capital of the central province of Hunan, Zhu graduated from Tsinghua University in 1951 with a degree in electrical engineering and joined the civil service, working on regional and national economic policy.He rose to be vice-premier in charge of China’s economy between 1991 and 1998 before taking on the role of premier.