Former Chinese Premier Zhu Rongji Dies at 97

Zhu Rongji, the former Chinese premier credited with guiding China toward a market economy and into the World Trade Organization, died Wednesday in Beijing.

He was 97. Xinhua, China's official news agency, announced his death without citing a cause, stating only that he died after medical treatment failed. Zhu, who served as premier from 1998 to 2003, was known for his role in liberalizing the Chinese economy and making it more internationally competitive. His initiatives propelled rapid growth in China, though his measures also contributed to issues of excessive debt and trade surpluses.

Zhu's reforms included privatizing state-owned enterprises and urban housing, and promoting home ownership. He was instrumental in negotiating China's entry into the World Trade Organization in 2001. Hong Kong's Chief Executive John Lee Ka-chiu expressed sorrow, stating Zhu supported Hong Kong's economic and social development and its prosperity as an international financial center. Lee recalled Zhu's 2002 visit to Hong Kong, where he encouraged leaders to spend fiscal reserves if necessary and expressed confidence in Hong Kong bonds.

Zhu's tenure followed Deng Xiaoping's market reforms and occurred after the 1989 Tiananmen Square crackdown. He worked under Jiang Zemin and was vice premier starting in 1991.