Former Chinese premier Zhu Rongji dies at 97

Former Chinese Premier Zhu Rongji passed away due to illness in Beijing on Wednesday, August 12, 2026, at the age of 97. The news was confirmed by the state news agency Xinhua. Zhu served as the premier of China from 1998 to 2003 under the leadership of President Jiang Zemin, earning the moniker "economic czar" for his pivotal role in transforming the nation's economy.

During his tenure, Zhu spearheaded significant market liberalization and globalization efforts, transitioning China from a state-planned system to a market-oriented economy. His policies are widely credited with fostering rapid economic growth, reducing poverty, and establishing the foundation for the nation's rise as a global power. Beyond his economic policies, Zhu was noted for his outspoken nature; in his 2011 four-volume anthology of speeches, he openly criticized the construction quality of infrastructure projects as "tofu dregs" and condemned incompetence among officials and bankers.

His death marks the end of an era of significant economic optimism in China. While the nation has seen unprecedented growth over recent decades, contemporary reports suggest that the second-largest economy in the world is currently experiencing a slowdown in the momentum established during the reforms of the late 1990s and early 2000s.