The Chinese government has not offered any soft loan to India in exchange for the latter’s agreement to ease border tensions, Chinese media reported on Wednesday.

Following China and India’s agreement to back away from their stand-off at Dong Lang (Doklam) on Monday, rumors of the withdrawal have been circulating on the Chinese-language internet. Based on the rumors, an India media outlet named “Press Trust of Hindustan” reported that India agreed to withdraw its personnel and equipment from the face-off site, but only in return for a $20 billion soft loan for infrastructure construction in India.

The rumor has received mix reactions from the Chinese public, with many finding it irritating, while others doubted the authenticity of the news.

In response to the rumor, Liaowang Institute, a think tank of Xinhua News Agency, issued a commentary on Wednesday, noting that the rumors are unreliable.

According to the institute, there is no media outlet named Press Trust of Hindustan in India, making the source of the rumor untrustworthy. The commentary noted that India’s suspicion and reluctance on Sino-Indian cooperation in infrastructure construction make the soft loan rumor even less reliable, as many Indian activists and politicians have been trying to exclude Chinese investment and companies from the country’s electronic and mobile communication sectors.