Chinese Super League clubs face caps on spending after 'burning money'

Oscar arrived in Shanghai this week

China's chief sports governing body has announced plans to cap 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".

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The spending was also described as "a grave phenomenon" in a question and answer session on the organisation's official website