Zhu Rongji, China’s chief engineer of economic reform and former premier, dies aged 97

Zhu, who rose to become premier, spearheaded China’s entry into the World Trade Organization Zhu, who served as China’s premier from 1998 to 2003, is remembered for shaking up the centrally planned economy, overhauling the state-owned enterprise (SOE) sector and tackling corruption. Working under former Communist Party leader Jiang Zemin, Zhu led the modernisation of China’s taxation and financial systems, which were fundamental to economic reform. Economist Lawrence Lau Juen-yee, former vice-chancellor and president of the Chinese University of Hong Kong, said Zhu had realised the devaluation of the Chinese currency “would not only not improve the situation for China but would make things worse for everyone else”.

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