Tianjin Quanjian have distanced themselves from speculation that they will sign Diego Costa from Chelsea when the domestic transfer window opens on June 19.
The Chinese Super League side have been linked to the 28-year-old since the turn of the year, but in a statement published on the club's website on Tuesday afternoon Tianjin denied they had been in contact with either the player or Costa's agent.
"Regarding the rumours and reports that Tianjin Quanjian Football Club's 2017 summer transfer plan is to buy Diego Costa, we hereby clarify the following: During the past six months the club has not communicated with Diego Costa or his agent regarding his transfer to Tianjin Quanjian," the statement said.
"Our strategy of bringing new players to the club is based on the general principal of providing entertainment and sustainable development. We have no intention of becoming involved in any unhealthy competition and, consequently, paying a premium price."
Tianjin are currently seventh in the standings after gaining promotion to the top flight by winning last season's second division title and adding Alexandre Pato and Axel Witsel to Cannavaro's squad.
And while Cannavaro, who captained Italy to the 2006 World Cup, has lamented his team's lack of a top-class striker in recent weeks, Tianjin also outlined their commitment to developing the club's own talent as well as bringing in players from overseas.
"The 2017 season is our debut season in the CSL," they added. "While focusing on enhancing the quality of our own football, we are also working hard to contribute to a healthy environment for Chinese football.
"That means, on one hand we want to have world-class player playing in China for entertainment purposes and make the CSL attractive not only to Chinese fans, but also to football fans all over the world. On the other hand, we have to have a fair environment and not only bring top players with only money.
"In addition, Tianjin Quanjian also cares about China's youth football system. That can be seen from our investment in Tianjin's youth system and our football development campus, which we see as our responsibility. Tianjin Quanjian will consistently seek to contribute to Chinese football."
Earlier this month Costa said he will be the one to decide where he will play next season and denied reports he will move to China.