Despite the fact that Ukraine and China established strategic partnership, the volume of Chinese investment in Ukraine is falling, promising innovative projects are «frozen». Therefore there is a need to develop evidence-based recommendations to the introduction of new investment activation mechanisms and innovation cooperation between Ukraine and China. The purpose of the article is to formulate proposals to strengthen Ukrainian-Chinese cooperation in the sphere of investment and innovation. The methods of comparative analysis (analysis of the dynamics of foreign trade in goods and services between Ukraine and China, analysis of the income dynamics of Chinese investment in Ukraine), the methods of induction and deduction in determining the causal relationship between the internal and external factors in the development of Ukrainian economy and the volume of Ukrainian-Chinese cooperation have been used. The state and the dynamics of trade and economic cooperation between Ukraine and China have been considered. Long-term projects and programs which can be implemented in Ukraine with the involvement of Chinese investments have been allocated. Interests of both parties in the investment and innovation have been identified. Proposals to strengthen Ukrainian-Chinese economic cooperation have been presented. According to the results of the study it has been concluded that the Ukraine and China have significant potential for further expansion of investment and innovation cooperation, since they have common interests in this area. For this purpose it is necessary to intensify the work of the Commission on Cooperation between the Government of Ukraine and the Government of the Peoples Republic of China, including the Sub-Commission on trade and economic cooperation, the Sub-Commission on Scientific and Technical Cooperation and the SubCommission on cooperation in space industry. Proposals for the Summit (conference) on the investment and innovation cooperation between Ukraine and China, including the exhibition of promising investment and innovation projects have been formulated. Further studies will be aimed at finding areas for enhanced cooperation in scientific and educational spheres, including the program of academic exchanges.