Anthropic sets IPO price range valuing it at up to $1.4tnRussia, Ukraine and US resume Abu Dhabi talks as Europe's role is contestedTrump calls Iran war "effectively over" as Tehran denies talksNvidia shares fall as FBI and board probe CEO Huang's affairSaudi Arabia intercepts missiles over Riyadh as Houthi war escalatesHot US inflation cements Fed hike as ECB and Bank of England lean toward more tighteningThree tankers burn in Hormuz as US and Iran contest the straitRussia hits Ukraine's grid and Dnipro bridges as Ukrainian drones hit Russian industryArrests ordered after deadly Izmir steel plant explosionHegseth calls impeachment bid 'sabotage' as House vote nearsAustralia to create AI safety regulator after OpenAI agent breachFrance summons Iran's envoy and weighs sanctions over supermarket fridge cyberattackBrazil tables fossil-fuel exit roadmap at COP31 as Guterres urges actionChina's trade surplus passes $1 trillion as exports keep surgingUS moves tankers from second UK base after Iran threatGaza floods leave tents under water as Israeli strikes go onOil falls below $90 as Hormuz LNG and crude flows recoverSoftBank swings to loss while TSMC shows resilient AI chip demandCanary Islands declare emergency as nearly 6,000 migrants arrive in ten daysIran lifts 2,000 km missile range limit and unveils underground missile cityMerz threatens to block EU budget unless all members share Ukraine fundingFog-driven motorway pile-up kills at least 12 in BulgariaPoland mourns Krakow shooting victims as gunman's interest in Breivik emergesUS, China and Russia struggle to agree format for planned APEC leaders' meetingViolence in northern Nigeria drives tens of thousands into NigerIsrael's new Knesset sworn in without a governmentIndonesian vice president Gibran to resign, presidential office saysRussia-linked espionage arrests in Poland and the UK, including a US soldierCalifornia voters reject one-time billionaire wealth taxGulf states approve military command headquarters in KuwaitParaguay reimburses depositors after Ueno Bank seizureBangladesh tribunal warns Hasina faces execution if she returnsIsraeli forces kill 14-year-old in West Bank as arson attacks continueHungary detains Viktor Orbán's brother in people-smuggling probeGovernments tighten rules on minors' online safety and AI assistantsData-centre backlash grows in the US, Nordic Europe and ThailandAlibaba's chip unit T-Head files confidentially for Hong Kong IPOPope Leo draws an estimated 2.5 million to Mass in Buenos AiresMalaysian court clears Najib to start house arrestPentagon removes WuXi AppTec from list of Chinese military companiesUS skips UN human rights review againLast Russian diesel tanker bound for US turns backSpanish train drivers strike after two deadly crashes as nationwide walkout loomsSaudi liquidity squeeze adds pressure as PIF weighs fundraisingEgypt detains rail staff as inquiry finds safety failures before deadly crashAnthropic sets IPO price range valuing it at up to $1.4tnRussia, Ukraine and US resume Abu Dhabi talks as Europe's role is contestedTrump calls Iran war "effectively over" as Tehran denies talksNvidia shares fall as FBI and board probe CEO Huang's affairSaudi Arabia intercepts missiles over Riyadh as Houthi war escalatesHot US inflation cements Fed hike as ECB and Bank of England lean toward more tighteningThree tankers burn in Hormuz as US and Iran contest the straitRussia hits Ukraine's grid and Dnipro bridges as Ukrainian drones hit Russian industryArrests ordered after deadly Izmir steel plant explosionHegseth calls impeachment bid 'sabotage' as House vote nearsAustralia to create AI safety regulator after OpenAI agent breachFrance summons Iran's envoy and weighs sanctions over supermarket fridge cyberattackBrazil tables fossil-fuel exit roadmap at COP31 as Guterres urges actionChina's trade surplus passes $1 trillion as exports keep surgingUS moves tankers from second UK base after Iran threatGaza floods leave tents under water as Israeli strikes go onOil falls below $90 as Hormuz LNG and crude flows recoverSoftBank swings to loss while TSMC shows resilient AI chip demandCanary Islands declare emergency as nearly 6,000 migrants arrive in ten daysIran lifts 2,000 km missile range limit and unveils underground missile cityMerz threatens to block EU budget unless all members share Ukraine fundingFog-driven motorway pile-up kills at least 12 in BulgariaPoland mourns Krakow shooting victims as gunman's interest in Breivik emergesUS, China and Russia struggle to agree format for planned APEC leaders' meetingViolence in northern Nigeria drives tens of thousands into NigerIsrael's new Knesset sworn in without a governmentIndonesian vice president Gibran to resign, presidential office saysRussia-linked espionage arrests in Poland and the UK, including a US soldierCalifornia voters reject one-time billionaire wealth taxGulf states approve military command headquarters in KuwaitParaguay reimburses depositors after Ueno Bank seizureBangladesh tribunal warns Hasina faces execution if she returnsIsraeli forces kill 14-year-old in West Bank as arson attacks continueHungary detains Viktor Orbán's brother in people-smuggling probeGovernments tighten rules on minors' online safety and AI assistantsData-centre backlash grows in the US, Nordic Europe and ThailandAlibaba's chip unit T-Head files confidentially for Hong Kong IPOPope Leo draws an estimated 2.5 million to Mass in Buenos AiresMalaysian court clears Najib to start house arrestPentagon removes WuXi AppTec from list of Chinese military companiesUS skips UN human rights review againLast Russian diesel tanker bound for US turns backSpanish train drivers strike after two deadly crashes as nationwide walkout loomsSaudi liquidity squeeze adds pressure as PIF weighs fundraisingEgypt detains rail staff as inquiry finds safety failures before deadly crash
Bota
Symbolic image: Zhu Rongji, architect of China's market overhaul, diesSymbolic image

Zhu Rongji, architect of China's market overhaul, dies

7 sources

Former Chinese premier Zhu Rongji died of illness in Beijing on Wednesday, aged 97 by most accounts. He drove the overhaul of China's state sector and its entry into the World Trade Organisation.

Xinhua announced the death of the man the media called China's economic tsar; the Global Times gave the time as 11:06 a.m. and his age as 98. Named vice-premier in 1991 after serving as Shanghai's mayor, he took personal charge of central banking, financial regulation, agricultural policy and a state sector he considered bloated and corrupt, the Wall Street Journal writes. As vice-premier and then premier until 2003, he revamped the tax system, fought corruption and restructured state firms at the cost of widespread job losses, the South China Morning Post reports. At a press conference in 1998 he pledged to forge ahead "unswervingly", whether what lay ahead was "a minefield or a deep abyss".

Tributes from Hong Kong

Hong Kong Chief Executive John Lee Ka-chiu said late on Wednesday he was profoundly saddened, thanking Zhu for backing the city's development and the "one country, two systems" principle. Lee credited him with helping Hong Kong hold its place as an international financial centre through the 1997 Asian financial crisis.

A changed country

The Economist headlined that his death is a reminder of how much has changed in China, while The Hindu noted that he also pushed ties with India.

Other opinions

The Global Times ran only a short death notice without any assessment of the reforms, while American, British and Hong Kong outlets present Zhu as the architect of China's market turn.

To the edition