Former Chinese Premier Zhu Rongji Dies at 97

BEIJING: (News Desk) – Former Chinese Premier Zhu Rongji, whose market-oriented reforms played a major role in China’s rapid economic transformation, has died at the age of 97.

Zhu died in Beijing on Wednesday morning after an illness, with China’s state-run Xinhua news agency reporting that medical treatment was unable to save him.

He served as China’s premier from 1998 to 2003 and became known for his tough approach to economic reform. During his tenure, the government pursued sweeping changes to state-owned enterprises, expanded urban housing privatisation and encouraged home ownership.

Zhu’s reforms helped accelerate growth in China‘s property and construction sectors. The resulting expansion eventually made real estate and related industries a major part of the country’s economy, although the sector later became burdened by severe debt problems.

His economic leadership was also credited with helping China navigate the 1997 Asian financial crisis, at a time when several economies across the region were facing major instability.

One of Zhu’s most significant achievements came in international trade. He played a central role in negotiations that led to China’s accession to the World Trade Organization in 2001, a landmark development that further integrated the country into the global economy.

China’s leadership praised Zhu as an experienced and dedicated Communist Party member and described him as an outstanding leader who devoted his life to serving the country and its people.

An obituary issued by China’s top political bodies said his death represented a major loss for the Communist Party and the country.

Zhu’s economic philosophy later became less prominent following Xi Jinping’s rise to power in 2012. Under Xi, Beijing has placed greater emphasis on reducing economic inequality, controlling excessive wealth and strengthening state oversight of major private companies.

News of Zhu’s death quickly became one of the most discussed topics on China’s social media platform Weibo. The topic reportedly attracted more than 190 million views within hours of the announcement.

Many users posted messages mourning the former premier, with some describing him as a respected leader and others sharing candle emojis in his memory.