The Financial Times reports that a Chinese company will invest £220m in Sheffield in what the council says is the largest property deal outside London by a Chinese developer. Sichuan Guodong Construction will spend the money on up to five projects in the city centre over the next three years. It is part of a 60-year partnership between the company and the city council. The projects have yet to be chosen. The deal, which has been 18 months in the making, will be welcomed by the government. George Osborne, the former chancellor, made several trips to China, including some with council leaders, to drum up investment. The money, a mix of equity and bank loans, will be in a fund managed jointly by the city council.
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