Former Chinese premier Zhu Rongji, who spearheaded major market-oriented reforms and played a key role in China’s economic transformation, died in Beijing on Wednesday at the age of 97.
Zhu became premier in 1998 and quickly gained a reputation as a forceful advocate of free-market reforms. His tenure saw a broad programme to privatise loss-making state-owned enterprises, the privatisation of urban housing and policies promoting home ownership.
He died on Wednesday morning after an illness, with state news agency Xinhua reporting that medical treatment had failed to save him.
A joint obituary issued by China’s top political bodies described Zhu as a dedicated communist who devoted his life to serving the people and said his death was a major loss for the Communist Party and the country.
His reforms fuelled a major expansion in China’s property and construction sectors, which eventually grew to account for around a quarter of the economy before a severe debt crisis hit the sector in 2020.
Zhu was also credited with helping China weather the worst effects of the 1997 Asian financial crisis. He played a leading role in negotiations that paved the way for China’s accession to the World Trade Organisation in 2001, a move that accelerated the country’s emergence as a major global trading power after decades of economic isolation under Mao Zedong.
Prime Minister Shehbaz Sharif expressed condolences to Chinese President Xi Jinping, Premier Li Qiang, Zhu’s family and the Chinese people.
“Deeply saddened by the passing of former Chinese premier Zhu Rongji, a great leader and a good friend of Pakistan,” Sharif said in a post on X, adding that Pakistan shared the grief of its “iron brother” China.
Zhu’s obituary described him as an outstanding member of the Communist Party of China, a loyal communist and a prominent leader of the party and state.
However, his market-oriented approach became less prominent after Xi Jinping came to power in 2012. Xi has criticised unchecked capitalism and pursued a more balanced economic model while tightening oversight of private companies and curbing excessive displays of wealth.
Following the announcement of Zhu’s death, his name quickly became a top trending topic on Weibo, with posts about his passing receiving more than 190 million views within hours.
Many users paid tribute to the former premier, with some describing him as a “people’s good premier”, while others posted candle emojis in his memory.
