Chinese cos facing many difficulties due to trade frictions

BEIJING, Sept 29 (Reuters): Chinese companies are facing many difficulties due to trade frictions, Commerce Minister Zhong Shan said on Sunday.

The United States and China have been locked in an escalating trade war for over a year. They have levied punitive duties on hundreds of billions of dollars of each other's goods, roiling financial markets and threatening global growth.

"Trade faces unprecedented challenges," Zhong told a news conference in Beijing. "These challenges are both external and internal."

A new round of high-level talks between the world's two largest economies is expected in Washington on Oct. 10-11, led from the Chinese side by President Xi Jinping's top economic adviser, Vice Premier Liu He.

China will expand imports, and measures to stabilize trade will yield positive results, Zhong add, without giving details.

The Trump administration is considering radical new financial pressure tactics on Beijing, including the possibility of delisting Chinese companies from US stock exchanges.