From financing to a potential free trade agreement (FTA), analysts say there are a number of areas for China and the E.U. to collaborate on.
First off, negotiations are already underway for a bilateral Investment Agreement set to conclude by the end of 2016.
Why the Trans-Pacific trade deal makes sense
"Now that the U.S. and China seem to have lost the momentum for their own Bilateral Investment agreement (a notable absence during Xi Jinping's trip to the US), Europe could—for once—become a frontrunner in the negotiations with China and have the U.S. follow if it so wishes," Herrero said.
Read MoreAs for an FTA deal, it may be possible in the distant future.
"China has already expressed interest to the EU in commencing negotiations on a bilateral FTA when President Xi Jinping visited the EU in March 2014. At the time, the EU recognized this to be a desirable long-term objective rather than something that would be negotiated in the near future," noted Rajiv Biswas, Asia-Pacific chief economist at IHS.
Indeed, both players stand to benefit considerably from an FTA. Total bilateral trade in goods reached 467 billion euros in 2014, making China the E.U.'s most important trade partner after the U.S.
An additional area of cooperation lies in China's ambitious infrastructure 'One Belt, One Road' project, in which Beijing will be looking for financing from Europe, Natixis flagged.
Signs in recent weeks already reveal deeper ties between the two economic heavyweights.
At the end of September, China announced it will become the first non-EU nation to contribute to the European Commission's 315 billion euro Investment Plan. Meanwhile, the E.U. said it would examine the possibility for China to become a member in the European Bank for Reconstruction and Development (EBRD), a developmental investment bank.