The Nigerian international Emmanuel Emenike turned down a move to Shanghai Shenhua according to the Mirror.
The Chinese club tabled an offer of €5.5 million which Emenike rejected in favour of a loan move to West Ham.
The daily paper goes onto say that Shenhua have maintained an interest in the 28-year-old and will return in the summer.
Emenike made his debut for the Hammers last weekend against Southampton.
The pacy striker spent the first half of the season on loan at Al Ain where he scored 7 times in 11 games.
West Ham currently sit in sixth place in the Premier League with 39 points in 25 games. The London based side take on Norwich City this weekend and can move up to fifth position with a win against the Canaries.
The Hammers were defeated in their last game and will be looking to bounce back to winning ways this weekend.