The deal would give the blocks firms better access to the Chinese market, better competition conditions on protection for investments.

On Tuesday, a Chinese Foreign Ministry spokesman said the lengthy negotiations had made huge progress during the discussions over the China EU investment deal are the most important item on the agenda for us now.

Through the efforts of both parties, the discussions have achieved great progress on the prospects are promising.

We hope the deal can come to fruition at an early date on provide robust and systematic guarantees for China EU trade cooperation and bring tangible benefits for companies and people from both sides.

But even if a deal happens, hammering out the legal details could take months on.

EU officials have said full implementation could take around a year.

Talks ground to a halt in 2014 as the block accused China of failing to deliver on promises to lift investment curbs.