Tianjin Quanjian insist they have not held any talks with Chelsea striker Diego Costa over a potential transfer for the past six months.
The Spain international was heavily linked with a move to the Chinese Super League side in January but ultimately stayed at Stamford Bridge and spearheaded a Premier League title triumph.
Costa's future remains the subject of speculation, however, while manager Antonio Conte suggested last week that he would happily allow players to leave if they were not committed to the Blues.
It has been reported that Tianjin are willing to sanction a £60million bid for the 28-year-old as well as wages of potentially more than £300,000 per week.
However, the club released a statement on Tuesday to stress that there have been no negotiations with the player and that they are not prepared to make any "overpriced signings".
"For the past six months, our club have not been involved in any form of communication and negotiation with Diego Costa, or his representatives," they said.
"Our club will draw up a rational transfer plan as an aim to improve the spectator experience of the Chinese Super League and meet its sustainability demands.
"We won't take part in any unhealthy competition, thus preventing all overpriced signings."
China's sporting governing body announced plans in January to curb the significant spending of its biggest football clubs.
The likes of Oscar, Carlos Tevez, Alex Teixeira and Hulk have all moved to the CSL in recent years for substantial transfer fees and contracts.
The agent of Cristiano Ronaldo, Jorge Mendes, claimed last December than an unnamed Chinese club approached Real Madrid with an offer of EUR300m to sign the Portugal star.
Borussia Dortmund forward Pierre-Emerick Aubameyang and Paris Saint-Germain's Edinson Cavani have also been linked with Tianjin.