China has cut the number of foreign footballers allowed to play in each match from four to three per team as it seeks to boost development of domestic players and rein in excessive spending by clubs, which has distorted the global transfer market and added to fears about capital outflows.
The nation’s top sports administration body warned this month that it would take action to reduce spending on foreign players, after clubs in the top-tier Chinese Super League embarked on an unprecedented transfer binge over the past two years.
The acquisition of players was just one part of a multibillion-dollar surge of investment into Chinese football, with Chinese companies also buying top European clubs and media rights agencies after President Xi Jinping set out a plan to turn China into a respected footballing nation.