Zhu Rongji, the “economic czar” who helped propel China into a global power, dies at 97

Former Chinese Premier Zhu Rongji, one of the key architects of the country’s economic transformation, has died at the age of 97.

State news agency Xinhua reported that Zhu died Wednesday morning in Beijing after an illness. He led the Chinese government as premier from 1998 to 2003.

Known by the epithet “economic czar,” Zhu made a major contribution to steering China’s economy toward international markets and to the reforms that reshaped it.

Under his leadership, the country carried out deep changes in finance, the fiscal system and the state sector. Zhu stood out for his pragmatism, straightforward communication and uncompromising stance against corruption.

China’s accession to the World Trade Organization in 2001 is regarded as one of his greatest achievements. The development marked a decisive turning point in the country’s integration into the global economy, sharply boosting trade and foreign investment.

However, the transformations undertaken during this period also brought severe social consequences. The restructuring of state-owned enterprises caused the loss of about 40 million jobs and drew strong criticism inside China.

Zhu began his professional journey as an engineer and economist before taking the helm of the Shanghai municipality. The results of his work in that city caught the attention of Chinese leader Deng Xiaoping. In 1991 he was appointed vice premier, and in 1998 he became premier.

His career was also marked by heavy political challenges. During the Mao Zedong era, Zhu was expelled from the Communist Party and fell victim to the political purges of the Cultural Revolution. After Mao’s death, he was rehabilitated and returned to political life.

With Zhu Rongji’s passing, one of the most influential figures of the reform era departs, a period that helped turn China into one of the world’s leading economic powers.