China’s annual Economic Work Conference is likely to convene within the next two weeks, meaning a trade deal with the U.S. is “imminent,” according to ICBC Standard Bank Chief China Economist Jinny Yan.

The world’s two largest economies are working toward a “phase one” trade deal. The next tariff deadline falls on December 15, after which point additional U.S. levies on Chinese exports will go into effect. 

“The key priority for (Chinese President) Xi Jinping and policymakers across China is stability, so anything that overthrows stability is going to be essentially a concern. That includes Hong Kong, the U.S.-China situation, and that is why a phase one deal is absolutely crucial,” Yan told CNBC.

The Economic Work Conference is a closed meeting of policymakers typically held over two or three days in the second or third week of December, and sets the national agenda for China’s economy and its finance and banking sectors for the following year.

Yan suggested that owing to this coinciding with the key tariff deadline, she believes “the trade deal is imminent.”