Chinese Super League champions Guangzhou Evergrande have denied they are ready to make a huge bid for Borussia Dortmund striker Pierre-Emerick Aubemayang and maintain that they are focusing on young, homegrown talent.
Chinese media had reported that Guangzhou and Beijing Guoan were both looking to sign the Gabon international in a £62m deal this month.
But Evergrande say they have no plans to spend significant sums on players from overseas.
“Since 2017, we have set out clear principals to sign foreign players who compliment Chinese football and we refuse to pay a premium for any player,” the club said.
“Neither will we join in bidding wars in the transfer market as we are now switching our focus to youth development.
“We will stick to the Evergrande model of building a fully linked youth system to realise our vision of fielding a fully Chinese squad by 2020 to ensure we can consistently contribute to a healthy, stable and sustainable environment for Chinese football.”