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Zhang Ping, the president of the National committee for reforms and development, stated that  during the month of November the Chinese economy continued to slow down gradually. This information has been spread after that the central bank cut down the base rates applying the most heavy reduction of the last decade.

According to Zang, the Chinese economy is going on growing but easing out because of the global economic crisis.  The Government Informative Centre foresees that this year the GDP’s growth will stop to +8%, after the +9% registered during the third quarter.

In order to face this economic slowdown the Chinese government has already enacted a plan of economical helps by allocating for this project  600 billions of USD. The most relevant consequence of this situation is that “The raise of bankruptcies and productive cuts will lead to a massive unemployment  and to strong social tensions.