German Government: EU-China investment pact to be finalized by end-2020

The European Union and China continue to talk over the investment pact and sides are aiming to reach an agreement by the end of 2020, a spokesperson for the Germany government said on Friday, as reported by Reuters.

The spokesperson further noted that progress appears to have been made in the latest round of talks. On the same note, EU Trade Commissioner Valdis Dombrovskis said earlier in the day that a deal with China was possible this month.

Market reaction

The Euro Stoxx 50 Index and Germany's DAX 30 Index both gain around 0.3% on a daily basis following these comments.