Han Zheng warned globalisation was under "serious strain" in an address to the Future Investment Initiative (FII), a major conference in Saudi Arabia's capital Riyadh.

"Rising trade protectionism, increasing unilateralism and bullying and deficiency in the multilateral governance system -- all these add to the uncertainty of the global political and economic landscape," Han said through a translator.

"We need to rise above differences in social systems and development stages, and look for commonalities on the basis of mutual respect," he added.

Chinese President Xi Jinping and US leader Donald Trump are scheduled to meet on Thursday in South Korea to seek an agreement that would end the trade war.

Trump has threatened to impose further heavy tariffs on China from November 1, although on Monday he said he had "respect" for Xi and was hopeful of striking a deal.