Former Chinese premier Zhu Rongji, who pushed sweeping economic reforms and helped steer China into the World Trade Organisation , has died, state media reported. He was 98.
Market Context
Known for his sharp tongue and willingness to take difficult decisions, he pushed major reforms of state-owned enterprises, shutting down thousands of inefficient or loss-making companies, as per a Bloomberg report. As governor of the People’s Bank of China from 1993 to 1995, Zhu also introduced measures to open China’s financial sector to foreign investors and oversaw the country’s first global bond sale.
