Zhu Rongji - Vice Premiership

Vice Premiership

In 1991, Zhu became the vice-premier of the State Council, transferring to Beijing from Shanghai. Also holding the post of director of the State Council Production Office, Zhu focused on industry, agriculture and finance, launching the drive to disentangle the "debt chains" of state enterprises. For the sake of the peasantry, he took the lead in eliminating the use of credit notes in state grain purchasing.

Between 1993 and 1995, Zhu served as a member of the Standing Committee of the Political Bureau of the CPC Central Committee while retaining his posts as the vice-premier of the State Council and as the governor of the People's Bank of China. From 1995 to 1998, he retained the positions of Standing Committee member and vice-premier.

Concurrently serving as governor of the Central Bank, Zhu tackled the problems of an excessive money supply, rising prices, and a chaotic financial market stemming, in large measure, from runaway investments in fixed assets. After four years of successful macro-economic controls with curbing inflation as the primary task, an overheated Chinese economy cooled down to a "soft landing". With these achievements, Zhu, acknowledged as an able economic administrator, became premier of the State Council.

Zhu used the term "patriotic organizations" to describe the triads on the record for their past history as secret societies in resisting foreign invaders and playing a key role in Chinese history.