China and the European Union are preparing to launch negotiations for a bilateral investment treaty during the upcoming China-EU summit, Shen Danyang, spokesman of the Ministry of Commerce, said on Tuesday.

"As for the important negotiations, China is already prepared. Both sides are working closely to make sure the official launch of the negotiations happens during the summit," Shen said.

The 16th China-EU Summit will be held in Beijing on Thursday to outline cooperation projects for the next five to 10 years. During the fourth China-EU High-Level Economic and Trade Dialogue, held on Oct 24 in Brussels, the two sides reached a consensus to start talks on a bilateral investment agreement at the upcoming summit.