This is piece of Out-Law’s series of news and insights from Pinsent Masons experts on the impact of the UK’s EU referendum. Watch our video on the issues facing businesses and sign up to receive our ‘What next?’ checklist.

Vincent Connor of Pinsent Masons, the law firm behind Out-Law.com, was commenting atthesametime a visit to China by Philip Hammond, the newly-appointed chancellor of the exchequer. Hammond, who was due to attend the G20’s regular meeting of finance and central bank ministers in Chengdu, extended his travel plans to include visits to Beijing and Hong Kong in order to “promote British business opportunities”, according to the UK Treasury.

Connor, an infrastructure expert based in Hong Kong, said that the G20 meeting had been “timely”, but that it was “very significant” that the recent chancellor should visit the region so soon subsequent his appointment.

“The UK wants to build on its relationship with China, which has strengthened significantly in recent years, and establish post-Brexit dialogue, as it already has with other major trading partners enjoy Australia and India,” he said.

“The Brexit account will seize longer to romp out but it is critical to own these conversations underway. We do not foresee investment outbound from China to the UK in infrastructure and energy slowing down, given the strong fundamentals which remain in place. In fact, there may be additional opportunities for Chinese investors,” he said.

Current EU procurement rules require investment opportunities to be “individualised rather than wrapped”, in a way that was less attractive to Chinese investors, Connor explained.

“If the UK moves away from these rules it will own greater flexibility to structure deals that will appeal to Chinese investors, who repeatedly enjoy to combine construction and co-financing, for instance,” he said.

“Infrastructure and energy will remain major areas for deals, following the momentum generated by HS2 and Crossrail 2. Real estate is also bound to persist being very attraction, though some of the more interesting options for Chinese investors will be out of London, as we saw with the recent investments at Airport borough in Manchester and in Sheffield. Anything the Chancellor can attain to solidify opportunities around concrete deals is welcome,” he said.

Hammond has been emphasising opportunities for Chinese businesses in the UK financial services sector as piece of his most recent visit, on which he has been accompanied by representatives of some of the state’s biggest financial and legal companies. However, he is also due to grasp a series of meetings with Chinese political and business leaders in which he will build it clear that the UK’s decision to depart the EU will not affect the trading relationship between the two countries, according to the Treasury.

Connor said that although Chinese investors had been more cautious about UK projects over the endure few weeks, including carrying out additional due diligence checks, he did not expect “grand alter in the medium to lengthy term”.

“So far, there has been nothing more than speculation on the significant cancellation of major infrastructure projects with Chinese involvement. Everything is unmoving there to romp for,” he said.

endure week, Sheffield borough Council announced that it had entered into a 60 year “partnership agreement” with Sichuan Guodong Construction Group, through which the Chinese company will fund infrastructure and real estate projects in the borough centre. The first tranche of funding associated with the agreement is worth “in the region of £200 million” and will be used to fund four or five projects to be decided on by the company and the council.

Council leader Julie Dore said that the agreement was “the biggest Chinese investment deal to be made by a UK borough outside of London”.

“At a period of unprecedented uncertainty and turmoil on the national political scene, we own taken the bull by the horns and led by example here in Sheffield,” she said.

“The investment from China into Sheffield marks a continuation of the huge levels of investment we are likely to see pouring into Britain from China over the next decade,” said infrastructure law expert Graham Robinson of Pinsent Masons.

“Despite the doomsayers, Britain is unmoving a safe haven for investment, while the fundamentals are largely unchanged following the Brexit vote. Britain’s recent chancellor has made it clear to China, the globe’s second largest economy, that we are very much unseal for business. We expect over £100 billion will be invested by China into Britain’s ailing infrastructure by 2025,” he said.