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Negotiations over the China-E.U. investment deal is now at the final stage and both parties still hope to achieve the goals set by leaders on both sides said Foreign Ministry Spokesman, Wang Wenbin, on Friday. The China-E.U. Bilateral Investment Deal, or Comprehensive Investment Deal, has been under negotiation for seven years and both parties have pledged to conclude the negotiation this year.

MNI previously reported that Chinese advisors suggest the government should look to seal a bilateral investment deal with the EU as soon as possible as any warming in the U.S.-EU relationship under President Joe Biden could reduce the chances of eventual approval.

Wang's comment came in response to the South China Morning Post's report on Friday that the E.U. has agreed "in principle" to an investment deal with China.

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