and carried out an air strike on the volley of facility targeting a senior commanders who was killed in striking cape ferguson will be here after the break with the w. a news business and details of a high level meeting and the future of the chinese economy is the state and for that, thanks for your company. the people in trucks inject, when trying to feed the city center, the straight pieces explain the around the world more than 130000000 people of we

of mine because no one should have to make up your own mind dw, may feel mine's the closed door, amazing, but good shape. the future of china, the economy. high ranking communist party officials gather in beijing to discuss how to address problems ranging from the country's aiming properly sector. news, unemployment. well brand new ex 1st analysis. also coming up quite decades old vehicles from the you are entering up on the street all out this is the w business. i'm kate ferguson. the thanks for joining me as the chinese

government is holding a major financial conference in beijing and toppling some of the country's most pressing economic challenges. the national financial work conference takes place once every 5 years behind closed doors. this time leaders are expected to be discussing ways to address china as enormously invested property sector, tackling unemployment and strength from the con, the government script on the country. $61.00 trillion dollar financial sector. for more than this, that spring and andrew coffee or china on the list of global forest partners, a macro economic research firm. andrew, this amazing takes place every 5 years behind closed doors. what kinds of decisions tend to be made there? well this particular meeting is a lot more important than other meetings they've had, because this is the 1st time that she didn't ping or any leader has concentrated all economic decision making right in the center of the party system in the poly bureau. so we're all rather eager to find out what kinds of decisions are going to

be made, and that's one of the problems. it's now become a bit of a black box to figure out what's going on since the this group is lot more important that the central bank or the, the csr see which regulates the stock markets. and so we don't really have a clue at this stage of what's likely to happen. i could make some guesses that whatever. but basically they're going to be doing a balancing act to try to figure out ways to save the countries terrible property market, which has been a driver of growth for the last decade. without us, we're spending good money after bad because so many property projects it's gone belly up. so it's an interesting balancing act of for the economic group that's meeting. so let's talk a little bit more about that balancing ox in the property sector. we've seen the demise of evergreens and the country garden is in trouble as well. how is the

government planning on tackling this issue? well, they're not basically i, i think the attitude a cheated, paying in others is that they can't keep the property bubble going on forever. so a lot of developers are going to have to go out of business. we know anecdotally that a lot of the smaller companies have gone under. now we're seeing some of the big ones go under. i don't think she can pin cares that much about these developers of the property sector. he's desperate to move the country into a new growth path. hopefully would something sexy like somebody, conductors or artificial intelligence or robots or electric vehicles, that kind of thing. but meanwhile, he's figures, if he's got to take the hit on the property sector, now he's going to do that. let's talk about another economic problem. china has us unemployment one is 5 young people doesn't have it's all we know china has a demographics problem. it desperately needs young workers to support its aging population. why aren't the opportunities there as well?

first of all, china has indulged in putting people in universities for the last several decades as a way to keep them off the streets. and unfortunately, the job creation is not kept based on the demand. second thing is in a campaign that started back in 20192020. he got rid of a lot of the gig economy companies. he cut them down to size the amazons of china. and the owners of china basically were reduced in scope and they were providing a lot of jobs for young people, not terribly great wages and the worker protections when so great. but at least it was something for people to do. and he's gotten rid of that. now there's a shortage of capital, so a lot of small businesses that would be shipping goods overseas or doing small do guys for christmas for americans or british is they're having difficulty getting enough money. so a lot of the small. busy businesses are running out of funds, so it's, it's a tough nut to crack,

particularly given that he's doubling down the state system, which is really helping anybody this doubling down you mentioned, is this simply all about control, or is there a genuine economic strategy behind i? i think that it is partly economic strategy and partly control. um, i don't doubt that he's a true believer and in communism in the state sector, he kind of grew up with that in his model. and i've been told by people that that's the way he thinks, if he's gonna, if you're going to turn back to your grab bag of ideas, state state industries is the way for him to go. so we spent a lot of money into big semi conductor firms that are government own, that unfortunately are fairly inefficient. so he's, it's slowing the pace of migration away from property. and that's what really worries me because at a time when the airplane is slowly starting to fall, he's, he's increasing, he's putting his foot on the gas to make it fall faster onto collier there. and you

can watch the full version of our conversation on the dw, easy to tunnel, staying with china. we've just been talking about some of the countries most pressing economic challenges. but one area in which it is leading the way is in electric mobility. take a look here and change and assign them to a profound public transport transform ation is under way. china is the world's top carbon emulator. boosting electric mobility is one way to address the problem. in general is the 1st city to eliminate these of buses, opting for the for the electric fleet. back in 2017. these passengers are at the forefront of a pioneer in shifting public transport. but she beckoned driving. his electric buses is incredibly comfortable. the intelligent system has enhanced every also it's simpler to operate more environmental or friendly and to reduce noise levels are not simple. it's a marked improvement. sion janet style blazing, cleaned public transportation move, set a benchmark for other chinese,

meant to port a sense amy to transition that your public transport systems entirely to electric by 2025. but china is still an outlier and clean transportation. the country accounts for over 90 percent of towards electric buses and truck fest for 2021 data by international council on clean transportation. however, besides the environmental benefits of stringent electric bus network, it runs with a solid consistency with buses taking minimum amount of time to recharge. this is what we did remaining 20 percent charge. honestly, it takes roughly 90 minutes to fully to charge the buses to yeah, it was the window, you know, the visual with the transition to electric buses present it to an issue. challenges from unfamiliar technology to ensuring adequate charging infrastructure has a limited range. according to the engines,

public transport offer shows the buses not match the performance of the decent predecessors. at the beginning of the summer. with step by step, solve the problem. now we can say we almost have the same technical performance of our buses compared to the the buses in the past. these electric buses are produced by b y d, headquartered in the same city. china is rising electric vehicle giant showcase the significant growth to the charge quarter of 2023 for developing a 22 per cent increase in profits compared to a year earlier. sion janet trance formation into a beacon of electric public transportation set, 2nd pending precedents. it offers a glimpse into a future where organ mobility and environmental protection can core exist. now to some of the other global business stories making news, british energy giants

b p has poses a lower than expected process of $3300000000.00 in the 3rd quarter. the company's next earnings were done from over h didn't dollars in the same period last year, and the company for a significant jump in the office after rest of the invasion of ukraine. a mess i own platforms, facebook and instagram are launching paid subscriptions. in most of europe that will remove from the platform. the option will be exclusive to people in the u. europeans, economic area, and switzerland, starting in november and albania, one of the poorest countries in europe 5 is car ownership remains relatively low, but things aren't changing fast. decades old cars generally and portion illegally from the u. r. no, a common slice on the roads aging. second hand cars are still chugging along the roads of albania. officially e u emission standards requirements prohibit the in portable vehicles, but that doesn't stop agent 2nd hand cars and taking to the streets. on the

outskirts of the capital toronto, this dealer selves imported cars from germany, italy, and switzerland. his prize offering a mercy. these 500 su, manufacture, year 1985, a 37 years of age this old time, or shouldn't actually be sold anymore. old cars generate a lot of air pollution. the commercial inspections need to become more systematic. now these, the lawmakers must also come up with a functioning inspection system. they should also include penalties for those who violate the laws. the emission standards are regular. however, that alone won't solve the problem. we really need a chain of inspections for old cars and their emissions. this year. old cars are mostly driven in rural areas where inspectors don't appear to scrutinize valid inspection stickers too closely. farmer battery areas car has already covered

more than 250000 kilometers. he bought for the equipment of 800 euros 12 years ago . he doesn't even have an inspection sticker. it's not necessary once he's only driving within the community or in the fields he reckons for its part, the government insist that it's made great strides and controlling traffic and air pollution. a new inspection center, the largest in the country, was built in the capitol hill. the impact on that, the, in practice, it is about pop bureau for standards for used cars, euro 5 or euro 6 standards for new cars with 0 kilometers actually being registered here. but the 1st time for the bar headed the registration authority admits. however, the rules are not uniform, be enforced. i should the countryside. people are quite pleased that the police aren't everywhere. farmer barry goes to his spare parts dealer. his car should keep

running for a long time. so i mean, sallow is the head of the family business. he stops everything used car owners around here need roman book. here we are now pena. we have a problem of poor fuel quantity for old cars. do not pollute the air. no, not the tools. i know this because i'm an expert in this area. maybe a couple of america, but i, i love my car. however, he knows that the year of old cars and albania is slowly sputtering to a halt. but he intends to keep the business taking over as long as possible on that ross so far. so from where you can always check i d, w dot com slash business for on the news youtube channel as well from me on the business team here in berlin. it's the by the xerox forgotten children for us on their

father's members of isis, 414 in prison. and so they are forced to work together. they search for usable things. they are society's outcomes, the scraps collectors most of those next on dw, the 77 percent, with a vivid discussion on climate change. route is obviously upfront and sunset issue to us. all animals have died. people are hungry. these new foods. where do we even begin to resolve with, let's hear from you think this discussion to add to the 77 percent in 60 minutes on d w. we've got some hot tips for your package. the romantic

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