Lu Shaye, China's Ambassador to France, said trade between the two countries was of strategic importance to Beijing and a free trade agreement (FTA) was in the government's sights.

He told CGTN Europe the new China-EU Investment Agreement would help the trading relationship, but even more should be to come to improve France's position as it is currently "only ... third in terms of bilateral trade."

"I believe the China-EU Investment Agreement will greatly boost the bilateral investment, allowing wider market access for investment from both sides. 

"With the investment agreement to be signed ... we are looking forward to start FTA talks, including with France," he added. 

Lu Shaye said China and the EU are looking to follow the bloc's recently signed agreements with the Latin American Mercosur bloc and negotiations with Australia. 

"There has been a global trend of having FTAs between major trading economies," he said. 

"An FTA will provide some guarantee for long-term trade and economic development for China and the EU."