American depositary receipts rose more than 3% on Wednesday as speculation intensified around a potential blockbuster aircraft order from China, possibly involving hundreds of jets. The renewed momentum in negotiations comes ahead of a planned summit between European and Chinese leaders in Beijing next month.

China is considering placing an order for hundreds of Airbus SE aircraft as soon as next month, when European leaders visit Beijing to celebrate the countries’ long-term ties, according to people familiar with the matter.

Chinese airlines are reportedly planning to place significant orders for Airbus SE (OTC:EADSY) aircraft, potentially involving hundreds of jets as early as next month, according to a Bloomberg News report citing