Guangzhou Evergrande FC could launch a bid to sign former Brazil striker Fred in what would mark one of the biggest signings in the Chinese Super League.
The 31-year-old is reportedly disillusioned at Fluminense and has made public his willingness to leave the Brazilian club, reports Xinhua.
According to local news portal Uol, Fred is a target of Evergrande football director Marcello Lippi, who is currently on a scouting mission for new players in the South American country.
It is understood the Chinese club is open to matching Fred's Fluminense monthly salary of $350,000.
"The No. 9 is prepared to leave Fluminense because the club has decided they no longer want him," Uol said, adding Evergrande would have to accept Fred's six million euros buyout clause.
Fred's discontent at the Rio de Janeiro outfit has been augmented by the fact he is owed almost two years of image rights.
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He also blames "political forces" within the club for orchestrating a fan protest last week that called for his axing from the first team.
Despite the growing schism between Fred and Fluminense's hierarchy, the centre-forward has recaptured his prolific form after being widely criticised for scoring just one goal during Brazil's World Cup campaign.
The former Lyon forward, who retired from international football after Brazil's 1-7 World Cup semi-final loss to Germany in July, has responded in the way he knows best - with a glut of goals.
A brace in his team's 5-2 victory over Corinthians Sunday saw him vault to the top of Brazil's Serie A scoring charts with 17 goals this season.
It is understood Guangzhou have used their former star Conca - now Fred's teammate at Fluminense - as a conduit in negotiations.
Conca enjoyed idol status during his two and a half years with Evergrande before he returned to his former club Fluminense in January.
There has even been speculation that Conca himself might return to China after Lippi was seen talking with the Argentine last week.
Conca's salary is similar to that of Fred, a value Fluminense sees as disproportionate as they seek to slash their debt and rejuvenate an aging squad.
According to sources close to Evergrande, Lippi's Brazilian wish-list also includes former Selecao striker Leandro Damiao, Parana Clube attacker Thiaguinho and Fluminense quartet Jean, Cicero, Henrique and Bruno.
Guangzhou's squad currently boast of two Brazilians - mid-fielder Rene Junior and forward Elkeson.
Lippi, Italy's 2006 World Cup-winning coach, stood down as Evergrande manager last month after guiding the club to four successive Chinese Super League titles.