Meet the biggest spender in the January transfer market: China

Brazilian footballer Carlos Gilberto Nascimento Silva, also known as Gil, arrives in Jinan, China after signing a four-year contract with Chinese Super League club Shandong Luneng.

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Chinese Super League clubs have spent the most money during the January transfer window so far.

As Jan. 27, the nation’s elite teams have splashed 136.25 million euros ($148.1 million) on new players, nearly €20M more than England’s Premier League.

In the past few days alone, the Chinese Super League has been bolstered by three high-profile signings in the shape of Ramires (Chelsea to Jiangsu Suning), Gervinho (Roma to Hebei China Fortune) and Fredy Guarin (Inter to Shanghai Greenland Shenhua).

Champions League winner Ramires joined Jiangsu Suning from Chelsea for a whopping €33M ($35.9M), with Gervinho leaving Roma for Hebei China Fortune, which has paid €18m ($19.6M) for the Cote d’Ivoire international, and Shanghai Greeland Shenhua handing Inter €12M ($13.1M) for Colombia midfielder Guarin.

In a further demonstration of China’s financial might, the Republic’s second-tier, League One (€43.52M) ranks fourth on the list of the highest-spending leagues, just behind Italy’s Serie A (€57.31M).

The Bundesliga comes in fifth in the expenditure stakes, with €36.64M having been spent in Germany’s top flight so far, but Spain’s Primera Division is just seventh in the standings, below Mexico’s Liga MX Clausura.

Meanwhile, only €6.43M has been spent in Ligue 1, placing France’s top flight in 13th, two places below England’s second division, The Championship.

Four of the five biggest spending clubs this January are Chinese, with only Norwich City (fourth) of the Premier League bucking the trend.