• ¨     Zhu Rongji, China’s fifth Premier, died in Beijing on 12 August 2026.

    ¨     He served as Premier from 17 March 1998 to 16 March 2003.

    ¨     He served as the Mayor and Party Secretary of Shanghai from 1988 to 1991.

    ¨     He was the Governor of the People’s Bank of China from 1993 to 1995.

    ¨     During the late 1990s, Zhu Rongji led major economic reforms in China.

    ¨     His reforms resulted in the closure of thousands of inefficient state-owned enterprises (SOEs).

    ¨     These reforms were associated with private-sector expansion, debt reduction, and large-scale worker layoffs.

    ¨     Zhu Rongji played a key role in negotiations for China’s entry into the World Trade Organization (WTO).

    ¨     China formally joined the WTO in December 2001.

    ¨     The WTO is an international organization that deals with rules governing trade between nations.

    ¨     The WTO began functioning on 1 January 1995.

    ¨     The State Council is the chief administrative authority of the People’s Republic of China.

    ¨     The People’s Bank of China is China’s central bank.