China’s chief sports governing body has announced that their will be a spending cap after the big spending of Chinese Super League clubs.

The league’s current pre-season transfer window is set to break records in the wake of  Oscar’s £60m move to Shanghai SIPG from Chelsea and Shanghai Shenhua’s £40m capture of Carlos Tevez.

The Argentina striker has reportedly signed a deal worth £310,000 a week.

A spokesperson for China’s General Administration of Sport said clubs in the country were “burning money”.

The spokesperson added that the government body would “strengthen examination and supervision of clubs’ financial affairs, progressively control clubs’ expenditures on first-team players and ensure favourable financial conditions”.