China and the European Union currently are carrying out text review and translation of the comprehensive agreement on investment in accordance with established procedures, and are striving to sign it as soon as possible, a senior government official said.

With the two sides concluding the pact in principle late last year, they have reached a high-level, balanced and mutually beneficial agreement, Commerce Minister Wang Wentao said.

The minister said it will create investment opportunities for companies from both parties and build a better business environment.

"The agreement is not only beneficial to China and the EU, but also conducive to the recovery and growth of the global economy," he said.