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GENEVA Belgie Wereldkampioenschap Shirt , Oct. 30 (Xinhua) -- During rapid economic change, the multilateral trading system needs to ensure the expansion of opportunities presented by technology and their lessening of adverse effects, World Trade Organization (WTO) director General Roberto Azevedo said Monday.


Addressing a conference, Azevedo said: "Trade in services, data, and information is surging across digital platforms. Traditional trade in manufactured goods, agricultural products Belgie Voetbal Shirt , or natural resources is also increasingly enabled by digital technologies."


He added that between 2013 and 2015, the value of online trade jumped from 16 trillion to 22 trillion U.S. dollars, "expanding the opportunities worldwide."


Azevedo said it is estimated e-commerce sales will rise by over 23 percent in 2017 alone and the global trading system "must go further."


In the year 1900, almost half of all workers in France were employed on farms, he said. Today, the figure is less than 3 percent. In fact, in some economies eight out of ten job losses in manufacturing are due to higher productivity Adnan Januzaj Belgie Shirt , not cheaper imports, Azevedo said.


The biennial WTO ministerial conference will held in Buenos Aires, Argentina, from Dec. 10 to 13.




Money supply in China last month rose by the slowest on record and new yuan loans nearly halved from September amid the government's tight regulations and seasonal liquidity stress.


Banks in China extended 663.2 billion yuan (US$99.91 billion) in new loans in October, up 11.9 billion yuan from October last year but the loans granted fell from September’s 1.27 trillion yuan, the People’s Bank of China said in a statement today.


The new loans also missed market expectations for 780 billion yuan according to a Reuters poll.


M2, the broader measure of money supply Christian Kabasele Belgie Shirt , rose 8.8 percent year on year, 0.4 percentage points slower than September and 2.8 percentage points slower than October last year.


Wang Yang, a researcher with the Development Research Center of the State Council, attributed the slower money supply to tightening financial regulations, and said monetary policies are expected to remain neutral in the near term.


“Deposits in financial institutions are weakening, resulting in higher costs of funding to the real economy,” said Wang. “Middle and long term lending to households and companies all cooled Laurent Ciman Belgie Shirt , but more policies may be implemented next year to support investment and infrastructure construction.”


Total social financing, the broadest measure of credit supply that includes loans, bank acceptance bills, corporate bonds and equity financing, rose 1.04 trillion yuan in October, a rise of 152.2 billion yuan from the same month last year and lower than 1.84 trillion yuan in September.


Analysts attributed the growth to robust bond and stock markets.


Central bank governor Zhou Xiaochuan warned in an article last week against risks such as real estate bubbles, higher leverage in the financial institutions Nacer Chadli Belgie Shirt , and excessive growth of mortgages