Zhu Rongji, architect of China's market reforms, dies at 97

During his tenure, Zhu pushed through painful but necessary reforms, including a substantial overhaul of the fiscal and taxation regime and a shakeup of state-owned enterprises. He is widely recognized for leading China's accession to the World Trade Organization in 2001, a move that paved the way for decades of double-digit growth and cemented China's role as a major global power.

State news agency Xinhua reported that Zhu died of illness in Beijing. His leadership is seen by many as marking the end of a more economically optimistic era for China, which witnessed a dramatic transformation from a centrally planned economy to a more open, market-friendly one under leaders like Zhu, who fearlessly carried out Deng Xiaoping's vision of "reform and opening." The ruling Communist Party's official obituary hailed Zhu's role during a "crucial stage" of economic transition and noted his "deep affection" for the people, emphasizing that officials should be public servants and deliver tangible results.

Before becoming premier, Zhu served as vice premier and mayor of Shanghai, where he spearheaded the development of the Pudong New Area. He also tamed rampant inflation and engineered an economic soft landing in the mid-1990s. His uncompromising approach and firm stance against corruption earned him the nickname "iron-fisted premier."