Former Chinese PM Zhu Rongji dies

Former Chinese Premier Zhu Rongji, widely regarded as one of the key architects of the country’s remarkable economic rise, has died at the age of 97.

China’s state-run Xinhua News Agency reported that Zhu died Wednesday morning while receiving medical treatment in Beijing.

Zhu served as China’s premier from 1998 to 2003. He played a crucial role in transforming the country’s economy from a state-controlled system toward a more market-oriented model and integrating it more closely with the global economy.

According to the South China Morning Post, Zhu was closely associated with major reforms, including efforts to combat corruption, restructure state-owned enterprises, overhaul the financial and tax systems, and expand foreign trade.

He was particularly influential in China’s accession to the World Trade Organization (WTO) in 2001.

After years of negotiations, China’s entry into the WTO helped open its economy further to international markets, trade and investment.