Chelsea reportedly turned down a £57.5 million bid from Chinese Super League side Jiangsu Suning for midfielder Oscar.
The Blues sold fellow Brazilian Ramires to Suning earlier in January for £25 million, which at the time broke the Chinese transfer record. However, that record was then broken twice again in the same month.
Should the bid for Oscar have been accepted, he would have broken the record for a fourth time inside a month.
Oscar, along with several other key Chelsea players, have been linked with moves away from Stamford Bridge in recent months, although the failure of this bid seems to suggest that Guus Hiddink is keen to hold on to his key players.