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EU is China's largest trade partner, the largest source of import and the second largest export market.
The value of cross-border deals settled in the Chinese currency, yuan, more than doubled in 2014.
The growth rate was 8.9 percentage points lower than that of 2013, the National Bureau of Statistics said.
China's Foreign Ministry has said both countries made great sacrifices and contributions to the victory of the world's anti-Fascist War.
The swiss city of Zurich joins list of global centres for trading the yuan.
In his State of the Union address on Tuesday, Obama said China must not be allowed to write trade rules for Asia.
The two nations will sign a financial deal on Wednesday in the presence of Chinese Premier Li Keqiang.
IMF has sharply cut its 2015-2016 world growth forecast owing to weak prospects in Japan, the Eurozone, China and Russia.
China’s envoy to the talks on Sunday said consensus was broadened among the stakeholders.
Finland’s pork industry was dealt a major blow by a Russian ban on pork imports.
