The pacts are also drawing comparisons to the Phase One trade deal reached during President Donald Trump’s first term. Analysts expect the investment pledges to go the way of the agricultural purchases China promised and never delivered upon, especially as the vows don’t appear to be legally binding.

In the wake of the Trump administration’s trade deal with the European Union, investors have turned to watching for other agreements ahead a deadline at the end of this week — and they’re looking for progress in talks with China,

European Union leaders are meeting with top Chinese officials in Beijing on Thursday for a one-day summit aimed at addressing trade imbalances, climate cooperation and global conflicts, though expectations for concrete outcomes are low.