Zhu Rongji, the former Chinese premier who played a major role in opening China’s economy to global trade, died in Beijing at 97, according to state news agency Xinhua.
Zhu served as premier from 1998 to 2003 after years as a senior economic official. Often called China’s “economic czar,” he pursued sweeping reforms to taxation, state-owned enterprises and monetary policy while tackling inflation.
His reforms also carried heavy social costs. The restructuring of state-owned companies contributed to an estimated 40 million layoffs and generated political opposition.
Zhu’s career was shaped by political upheaval under Mao Zedong before he was rehabilitated and rose through China’s economic bureaucracy. The Communist Party praised his role in guiding China’s transition toward a socialist market economy.
Related Tweet:
BREAKING: Former Chinese Premier Zhu Rongji, who led the country into the World Trade Organization and helped ignite its explosive economic boom, has died at 97.
— The Associated Press (@AP) August 12, 2026
Update: A previous version of this post incorrectly stated that Zhu died at 98. https://t.co/ZhvHIRitpg
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