Shanghai SIPG have completed the signing of Brazil international Hulk from Zenit St Petersburg.
The Chinese Super League (CSL) club have paid €56 million for the player, which represents a new transfer record for the league. Zenit would be due an additional €2 million should he score more than 15 goals.
Hulk is reported to have agreed an annual salary of €12.5m before bonuses, which would make him the CSL's best-paid player.
"Hulk has undergone medical examination and the club has just signed the contract with him," Shanghai SIPG said in a statement.
The 29-year-old joined Zenit from Porto in 2012 and won the 2014-15 Russian Premier League title, when he also finished as top scorer, and the 2016 Russian Cup. He scored 77 goals in 147 games for the club.
CSL clubs are restricted to five foreign players in their squad, with one of the five having to hold a passport belonging to an Asian Football Confederation nation. They are permitted to field three foreigners and one AFC player on the pitch at any one time.
Shanghai SIPG, managed by Sven-Goran Eriksson, currently have five foreigners in the squad, with Asamoah Gyan, Elkeson, Jean Evrard Kouassi, Dario Conca and Kim Ju-Yung on their books. That means Eriksson will have to offload one of his foreign players.
The CSL has attracted several big names in recent months, with Liverpool target Alex Teixeira opting to move to China from Shakhtar Donetsk in a €50 million deal in February. Roma's Gervinho, Jackson Martinez of Atletico Madrid and Chelsea midfielder Ramires have moved to China too. Demba Ba and Argentina international Ezequiel Lavezzi are also now playing in the league.