A big investment deal between China and the European Union has been several years in the making, and on December 30, both sides said negotiations are complete. The announcement was made via video link, following a meeting between Chinese President Xi Jinping, his French counterpart Emmanuel Macron, German Chancellor Angela Merkel along with the heads of the European Council and the European Commission. Xi says the deal shows China's determination and confidence in further opening up its economy to the rest of the world. He says it will help the world's two major markets make significant contributions to a more inclusive global economy. EU Chief Ursula Von der Leyen tweeted that the investment deal is for more balanced trade and business opportunities.