Chinese Super League club Tianjin Quanjian say they have not made contact with Chelsea striker Diego Costa or his agent “during the past six months”.
Costa, 28, was heavily linked with a move to the club in the January transfer window.
But Tianjin said: “We have no intention of becoming involved in any unhealthy competition and, consequently, paying a premium price.”
Costa’s 20 top-flight goals this season helped Chelsea win the league title.
Tianjin were promoted to the Super League last season and have Italian World Cup winner Fabio Cannavaro as their manager.
The club’s owner, Shu Yuhui, said in January that a bid to sign Costa had been scuppered by new rules in the Chinese Super League which mean only three foreign players can be fielded per game.