China’s overseas coal power retreat could wipe out $50 billion of investment

China’s pledge to stop building coal-fired power plants overseas could cull $50 billion of investment as it slashes future carbon emissions, analysts said, although Beijing’s own domestic coal programme is still propping up the dirty fossil fuel.

Chinese President Xi Jinping said in a pre-recorded address at the United Nations General Assembly on Tuesday that China would help developing countries build green energy production and halt construction of coal power plants abroad.