Zhu Rongji dies at 98, remembered for backing Hong Kong
Bastillepost · 6 SOURCESabout 2 hours ago3 MIN
Summary
Former Chinese premier Zhu Rongji died in Beijing at 11:06am on August 12, aged 98, according to an official obituary issued through Xinhua by the Communist Party of China Central Committee, the National People's Congress Standing Committee, the State Council and the National Committee of the Chinese People's Political Consultative Conference. In Hong Kong, he is being remembered not only as a reform-minded national leader and WTO-era economic policymaker, but also as a senior state figure who repeatedly defended the city's financial system, praised its strengths and pressed for more effective governance.
Key Points
- The official obituary said Zhu, born in October 1928 in Changsha, Hunan, served as vice-premier from 1991 and premier from 1998 to 2003 before retiring in 2003.
- It credited him with steering macroeconomic tightening, tax and financial reforms, responding to the Asian financial crisis, and helping preserve Hong Kong's prosperity and stability as an international financial centre.
- Zhu visited Hong Kong four times, in June 1990, February 1992, September 1997 and November 2002, in roles ranging from Shanghai mayor to Chinese premier
- During and after the Asian financial crisis, he said Beijing would support Hong Kong's linked exchange rate and, if needed, pay any price to safeguard the city's prosperity and stability.
- His best-known Hong Kong remarks included urging the city not to “keep discussing without deciding, and decide without acting”, and warning that ruining post-handover Hong Kong would make leaders “national sinners”.
- Beyond crisis support, Zhu argued as early as 1990 that Shanghai would not replace Hong Kong as a financial centre and that the two cities should develop through complementarity rather than rivalry. In 2002, as Hong Kong struggled with deficits and weak confidence, he said the city could solve its own problems, praised its legal system, civil service and management talent, suggested issuing long-term bonds and joked he would be the first buyer.
- Zhu also cultivated a public image of bluntness and humour. In a 2002 press conference, he pushed back at a Hong Kong newspaper portrayal that he banged tables and frightened ordinary people, saying he had only ever tried to intimidate corrupt officials, not the public. His anti-corruption rhetoric elsewhere was similarly hard-edged, including his famous line about preparing 100 coffins and reserving one for himself if that was the price of fighting graft
- Hong Kong figures quoted after his death stressed both his policy weight and his personal style. Tam Yiu-chung said Zhu cared deeply about Hong Kong, firmly backed the linked exchange rate and was approachable in meetings before the 1997 handover, while Lau Siu-kai said Zhu's push for China's 2001 entry into the World Trade Organization reshaped both China's economy and the global trading order
Why It Matters
For Hong Kong readers, Zhu's death revives debate over a period when Beijing's backing of the linked exchange rate and repeated public endorsements were seen as crucial to market confidence. His comments on execution, unity and confidence in Hong Kong's institutions also remain part of the city's political memory because they are still cited when officials and commentators discuss governance and “one country, two systems”.