Zhao Ziyang, Zhu Rongji, and the Limits of the Chinese Market Reform under the Communist Party Rule

The death of former mainland Chinese premier Zhu Rongji on August 12 has renewed discussion of his economic legacy. Zhu, who served as premier from 1998 to 2003 after previously overseeing much of mainland China’s economic policy as vice premier, was one of the principal architects of the market-oriented reforms of the 1990s. He restructured state-owned enterprises, strengthened the central government’s fiscal capacity, promoted housing reform, and used mainland China’s accession to the World Trade Organization as a means of exposing domestic firms to greater competition.

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