It has been rumored that Psy has been recruited for CCTV's Spring Festival special.
The Spring Festival or Chinese New Year, is one of China's biggest holidays, and the Spring Festival special ranks with the highest viewer ratings in the entire year. The ads for the show are charged 800 million KRW (approximately 740,000 USD) per second, showing just how big of a deal the special is. Psy is said to have been promised 3,000,000 CNY (approximately 480,000 USD) for a 30 minute concert, which is 3 times the pay for Jay Chou for the episode.
However, regarding the rumors, YG Entertainment commented, "Psy is currently handling a busy global schedule. Although there may have been talks about promotions in China, he has not made any specific plans there."
They also denied the rumored amount of money involved as they added, "His appearance hasn't even been confirmed so there's no way that his appearance fee has been revealed. It is not true."