Former Premier Zhu Rongji passed away in Beijing on August 12. He was 97 years old. Zhu was one of the architects of China’s economic reform and of the country’s entry to the World Trade Organization (WTO). He was China’s Premier for one term from March 1998 to March 2003. He succeeded Li Peng as Premier and was succeeded by Wen Jiabao. Born in October 1928 in Changsha, Hunan province, Zhu joined the Communist Party of China (CPC) in October 1949. Between 1987 and 1991, he served successively as Deputy Party Secretary, Mayor and Party Secretary of Shanghai. During his tenure, he advocated for adjusting the city’s industrial structure, developing an export-oriented economy and enhancing its international competitiveness.
Zhu played a crucial role in advancing the development and opening-up of Shanghai’s Pudong New Area. His efforts laid a solid foundation for Shanghai’s further reform, opening-up and development, according to the official obituary. In 1991, Zhu was appointed Vice Premier of the State Council. In June 1993, he also concurrently served as Governor of the People’s Bank of China (PBOC). Zhu studied and developed approaches and measures to strengthen and improve macro-economic regulation, making significant and effective contributions to curbing an overheated economy, reining in inflation and achieving an economic “soft landing”. He pushed forward efforts to rectify and restore order in the fiscal and taxation sectors, accelerated fiscal and tax reforms and helped improve China’s financial regulation system, the China Daily reports.
The South China Morning Post asks the question of where to start when it comes to listing signature achievements of the former Premier that helped shape 21st century China’s rise to the world’s center stage. Reforming a centrally planned economy? Shaking up a state-owned business sector? Revamping the tax system? Securing China’s entry to the World Trade Organization (WTO)? These were among the reforms during his tenure as Vice Premier and Premier between 1991 and 2003 that transformed the country’s economic system into that of a modern state which is now a cornerstone of the global economy. Let’s not forget an iron-willed fight against corruption that inspired a memorable expression of his determination at a press conference: “I’ll have 100 coffins prepared, 99 for corrupt officials and the last one for myself.” History will record a quote at the beginning of his premiership: “Regardless of what lies ahead – be it a minefield or a deep abyss – I will forge ahead unswervingly, dedicating my entire life and energy to the country until my dying day.” Those words came to define the legacy of China’s “towering economic reformer”.
A defining event of Zhu’s tenure as Premier was China’s entry to the WTO in 2001, two years after he had visited Washington to negotiate with the administration of then President Bill Clinton, who initially declined to finalize the agreement. Zhu pressed on despite strong criticism within China of concessions to foreign companies. When China formally joined the WTO, he quipped that 15 years of negotiations had caused his “black hair to turn grey”. China’s accession to the WTO overhauled its economy and turned the country into the world’s leading manufacturing powerhouse.
