facing pakistan. i'm see there's the in berlin, welcome to our show. well, he was once considered one of the country's most influential deal makers. and then he suddenly disappeared. now nearly 2 weeks after he was reported missing bow fun has been located. of the founder of investment bank, china renaissance, is reportedly cooperating with chinese authorities on an investigation that's according to the company. the 52 year old billionaire is certainly not the 1st high profile name to disappear from public view in the country. of there was false one group founder guar, guam chung, who disappeared for several days and 2015. then you might remember jack ma, the founder of ant group. he wasn't seen in public for 3 months beginning in late 2020. after he criticized the chinese financial system, well mart reemerge later after it, beijing had squashed his company's plan. i. p o about funds disappears, dealt quite a blow to his company stock. it lost a 3rd of its value overnight showing once again that no public satcher is too high

for bay jeans reach. without we go to frasier, how he's an author, an expert on business in china. fraser, executives don't just vanish on their own accord in china. if you are a shareholder in this company, what does that tell you? what's your, what's your seo or founder disappears? well, you should be extremely running because this isn't just the case of people, you know, seeking some privacy are going on. you're going to treat the chinese government not even follow that. all these people are there are off the 3 different countries and then hold a no access to lawyers or family or anything like that, you know, very little over what's going on. and it's a very why is that we know very little. do we have any suggestion that bout may have crossed a line with beijing or was his stature simply to to high? no, i don't think it still is so much bye in the sense that the banker and so it all i

know is, you know, money flows as you do that there's more who was interested in getting a placement and things like that. so it's a tremendous amount of knowledge is that the underlying entrepreneur creating the car isn't the way the job hours others. so i'm somewhat surprised. it's taken so long to get around, as he must have been an incredible funds of knowledge, but what deals are going on. but the trouble he is, this is students. there are some meaningful investigation happening. we have no understanding why he ultimately the school that or even the investigation is adamant. at a minimum, this would seem to suggest that the tech crackdown that we saw beginning last year is going further, perhaps reaching deeper than we thought is that fair to say? well, i think it's all going, but i think you should remember that ultimately, if you're in a fight and you've been knocked down and you know, a broken legs and arms, then you're probably lost. and in that sense it is no longer be,

but it's very much lost to fight the government. and she did a bit of thought outside of the traditional legal channels. and guess what, the communist party, when is this just accelerating chinese company separation from western capital and western investors? or is that fight pretty much already lost? no, i mean it's, it's completely lost. but i think foreign investors need to be looked at and be very seriously concerned about that on the name. sure i would, china is off and ultimately chinese, we claim that this is some form of regulation. this is not how you regulate is our market. and it should send over a chilling message to investors both domestically and foreign investors looking to do business in china. that's fraser, how we author in china expert. thank you very much. staying in china, new study points to the scale of the country's investment in coal fired plants at

a time when many nations are trying to quit fossil fuels. but china will build on average to coal power plants every week. if all the plant projects are completed this year, that's according to the independent center for research on energy and clean air. paging approved $160.00 gigawatts of nicole project last year. it's the world's largest overall carbon emitter, and has pledged to be carbon neutral by 2060 all right, lorrie miller future is the lead analyst on this report for the center for research on energy and cleaner, he joined me from helsinki. lori, thanks for coming on to the show. can we say whether this construction is planned? construction is in line with china's climate commitments. what the government is intending to do is they're adding these power plants, especially during summer big hours. and they don't then didn't then to run round the year of the same time, china,

adding impressive amounts of solar, are clean sources into the grid and be able to cover all of the sectors, the d, my growth from the sources. there is a way in which these parts could go online and emissions don't go up. the concern is that it creates a powerful vested interest due to an energy build out when you have all these new plants and orders that are going to make use of them. so we can't say for sure whether this is even going to be used as anything, but essentially reserve is the clean energy transition. moving ahead as it should in china, you've sort of alluded to this already. we know that prices are getting higher right now. for many materials. we know that coal is likely to get cheaper and cheaper in the long run. are things progressing at the rate that they should to meet? it's climate promises. the solar installations you're going to get

are, are increasing at a very impressive rate, or this year to the target is $165.00 gigawatts of weakness over at it in just one year, which will be enough on its own to cover the trend again. christie on growth, so in that sense, there should be no more space for an increase in power generation from fossil fuels . a rate of ations is maintained in the coming years. is that a surprise to see the amount of power that they wanted to bring on via coal? when we look at the electricity shortages last year? no. the one thing the beijing hates is any sort of public disorder. and definitely those energy shortage is last year. a could have thrown doubt into the local government's ability to provide with that in view, it doesn't, it doesn't make sense to see this. this happening right now. it was clear after the

shortage last year that some of our plans were going to be added. what price is the indiscriminate way that these bonds are being approved? some of them could be justified on the basis of needing to have that additional capacity specifically during the summer, the others are in or is that already have over capacity and so on. so there are a lot of interest in china that are using this opening to get project approved with very little scrutiny. even if there is no real justification for very briefly what, what does this mean for western messaging to china as effect the way that other countries engage on this issue of climate? briefly you can one of the key just if you guys use a chinese decision makers, are using use the increase in color scheme in europe and germany. so there is value in us doing all that. we can to transition to clean energy as fast as

possible. it also needs to be clear to chinese decision makers that climate is core security issue or interest for the for europe. and success in reducing emissions will be central to offer a full relationship. all right, that's laurie molly 50 and with the center for research on energy cleaner. thank you very much. thank you so much. and now to some of the other global business stories making headlines, volkswagens china chief says he saw no forced labor when he toward a plant and change young. earlier this month, the car maker has come under fire for its plant machine, john region, which is run by its chinese partner, you in his documented force, labor and detention camps across region. british prime minister issue sooner. because in belfast today selling has new agreement with you, i, britain and the european union have agreed on sweeping overhaul to post regs at trade rules in northern ireland. it aims to simplify trade between the province and

the rest. you k, ukrainian president, florida to lensky, has heal talks with us treasury secretary, janet yellen, who is on a surprise visit to keith young's. of the u. s. a transferred more than $1000000000.00 of direct budgetary aid to ukraine. but that there were still significant obstacles to seizing frozen, frozen russian assets, excuse me. for the surging fuel and gas prices of the past year are pushing more countries to get serious about the transition to renewable energy sources. for some, it's more of an uphill battle than others, especially during an economic crisis and terrible inflation. here's a look at the challenges facing pakistan. ah, crumbling infrastructure, decades old power lines, massive blackouts, and high electricity prices. this is life for millions in pakistan, especially in rural areas. businesses are hardly better off 9 hours of

power cuts daily and it is much more expensive. now if it was 400, it is now 2000 rupees. loc as as entity sector heavily relies on fossil fuel. 64 percent of its electricity is produced with imported oil gas paint good, but the raising fuel and gas prices. after rushes immersion off, you clean it in countries like back. it's up to date that put measures what the transition from that mitchell did it in here will energy sources in the mega city of karachi, the dr. ruth house civil hospital is an example for energy transition that snow lack of sunshine here. and the roofs are large enough to generate lots of electricity using solar panels. dozens of photovoltaic models with an output of one and a half megawatts power the hospital maintenance engineers say at our ssl, on our li says the solar system will run for 2 decades. at least in the gutter,

and these panels produce up to 7000 kilowatt hours of electricity every day. that covers around 40 percent of the hospitals toward la electricity needs. sla, dallas parts aren't solid, b, b to pakistan. aims to generate 60 percent of its energy needs from renewable sources like wind and solar by 2030. currently only 2 percent is generated by solar power. mohammed ali runs one of the many shops for private customers looking to make the transition to solar panels, which are becoming more popular. but record inflation is putting a damper on solar projects. in this he come bills are now price is a higher than before, even though taxes in solar equipment are less now. but prices are according to the exchange rate. when the u. s. dollars expensive prices are much higher. dollar range of coverage in switching to climate friendly renewable sources in pakistan. it's like a race against time. here the threat post spec climate change can be seen on

a regular basis. lasts years, floods alone, cost damages were $30000000000.00. and here's a reminder of our top business story. missing. chinese billionaire bow fond is apparently working with authorities that's according to his company at china renaissance, which made the new announcement nearly 2 weeks after reported him missing. ah, all right, that's our show. we'll be back later with more headlines check us out online. in the meantime, d, w dot com slash business. with

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