Beijing, Aug 12 (IANS) Former Chinese premier Zhu Rongji died of illness at the age of 98 in Beijing at 11:06 am (local time) Wednesday. Zhu had served as a member of the Standing Committee of the Political Bureau of the 14th and 15th Central Committees of the Communist Party of China (CPC).
An obituary, jointly issued by the CPC Central Committee, the Standing Committee of the National People’s Congress, the State Council and the National Committee of the Chinese People’s Political Consultative Conference, extolled Zhu as an excellent Party member, a time-tested and loyal communist fighter, and an outstanding proletarian revolutionist, statesman and leader of the Party and the state.
Zhu was born in October 1928 in Changsha, central China’s Hunan Province. He studied in the Department of Electrical Engineering at Tsinghua University from 1947 to 1951. He joined the CPC in October 1949.
From 1951 to 1983, Zhu worked at various places and held a series of posts related to economic affairs in regional and central government departments and institutions. He served as Deputy Director of the now-defunct State Economic Commission from 1983 to 1987.
Between 1987 and 1991, he served successively as deputy secretary of the CPC Shanghai Municipal Committee, Mayor of Shanghai, and Secretary of the CPC Shanghai Municipal Committee.
In Shanghai, he urged the municipality to readjust its industrial structure, cultivate new development strengths, enhance its international competitiveness, and pursue an export-oriented development path, Xinhua news agency reported. In 1991, Zhu was appointed Vice Premier of the State Council. In October 1992, Zhu was elected a member of the Political Bureau of the CPC Central Committee and its standing committee, and took charge of the State Council’s day-to-day work.
In June 1993, he concurrently served as the Governor of the People’s Bank of China. He actively championed the implementation of the principles outlined in Deng Xiaoping’s remarks during Deng’s 1992 southern China tour and worked hard to promote reform and opening up as well as China’s modernization drive. He organised campaigns to resolve the problem of debt chains known as the “triangular debts.”
Also, he studied and developed approaches and measures to strengthen and improve macroeconomic regulation, making significant and effective contributions to curbing an overheated economy, reining in inflation and achieving an economic “soft landing.” He pushed forward efforts to rectify and restore order in the fiscal and taxation sectors, accelerated fiscal and tax reforms and helped improve China’s financial regulation system.
In September 1997, Zhu was re-elected a member of the Political Bureau of the CPC Central Committee and its standing committee.
In March 1998, Zhu was appointed premier of the State Council. Facing the impact of the Asian financial crisis and the catastrophic flooding in China, he implemented the plans of the Party Central Committee to shift from a moderately tight fiscal and monetary policy to a proactive fiscal policy and a prudent monetary policy, expand domestic demand and deepen reforms in key areas, thereby sustaining steady and rapid economic growth.
He introduced a series of policies and measures to broaden opening up and encourage exports, while firmly preventing the devaluation of the renminbi. He also took measures to actively attract foreign investment and better utilize both domestic and international markets and resources, and firmly safeguarded the prosperity and stability of Hong Kong as an international financial center.
During Zhu’s tenure as vice premier and premier of the State Council, China was in a critical period of transitioning from a planned economy to a socialist market economy.
Under the firm leadership of the CPC Central Committee with Jiang Zemin at the core, Zhu spearheaded reform of the fiscal and taxation systems, carrying out a major overhaul of the tax regime centered on fairer tax burdens and a simplified tax system. He introduced a tax sharing system based on a rational division of fiscal responsibilities between the central and local governments, and launched pilot reforms of taxes and fees in rural areas.
In March 2003, Zhu no longer served as Premier of the State Council. After retiring from leadership posts, he steadfastly upheld and supported the CPC Central Committee with Hu Jintao as General Secretary, and then the CPC Central Committee with Xi Jinping at its core.
Zhu’s life was a revolutionary, fighting and glorious one. His death is a great loss to the Party and the state, the obituary said. Eternal glory to Zhu, it added.
