Chelsea manager Guus Hiddink has described reports linking China Super League club Jiangsu Suning with a £75m move for Oscar as pure speculation.
Stories suggested the big spending Chinese outfit were prepared to raid Chelsea's midfield for a second time, having already snared £25m man Ramires from Stamford Bridge.
But Oscar has become a key member of Hiddink's squad having re-established himself in the first team following the departure of Jose Mourinho and Chelsea are thought to have rejected the bid.
However, Hiddink denied the club had received an offer for Oscar in his pre-match press conference ahead of their clash with Manchester United on Sunday.
He said: “Well we know that just Ramires had a great offer. Oscar for me is just speculation. We do not go into that.”
The Chinese transfer record has been broken three times in 10 days as a host of cash-rich clubs continue their assault on the European market.
Jiangsu Suning, managed by former Chelsea full-back Dan Petrescu, started with Ramires before smashing the record to sign Alex Teixeira from Shakhtar Donetsk for £38.4m.
Elsewhere, Luiz Felipe Scolari's Guangzhou Evergrande spent £31m on former Atletico Madrid forward Jackson Martinez while Demba Ba, Freddy Guarin and Gervinho have also joined the division in big-money moves.
Blues boss Hiddink has no doubt that Chinese football is a serious business but believes that a sustainable infrastructure would be more beneficial than simply spending big.
He said: “It's a concern. It shows China is very serious to get into international football. They are very serious about their reputation.
“I had some contacts over there and they agree you cannot just buy star players for big money and think you have grounded Chinese football.
“They want obligation football in schools and universities and to also hire people that can give educations.”
