It was threatening to rival the spending power of even the Premier League but China on Thursday signalled what could be the end of its record-breaking splurge on foreign football stars.

Days after recruiting the likes of Oscar and Carlos Tévez on mega-money deals the country’s government ordered a clampdown against “irrational investment” and vowed to “regulate and restrain high-priced signings and make reasonable restrictions on players’ high incomes”.

The statement from an unnamed spokesman of the General Administration of Sport raised questions about China’s commitment to its plan to become the next footballing superpower and both host and win the World Cup.

Insolvent clubs could now be kicked out of the country’s Super League. Clubs have been spending more than their Premier League counterparts in recent transfer windows.