Securing the services of the Champions League, La Liga, World Cup and European Championship victor would represent a major achievement for Chongqing Lifan.
Barcelona captain Andres Iniesta was taken off with two minutes left to play and the legendary midfielder went off amidst loud cheers and applause in what felt like an emotional final for the Barcelona man.
Barcelona-based journaliist Jordi Marti tweeted to say: "The online Chinese PPTV, operator of the League with rights in China, assumes the transfer of Iniesta to Chongqing in the absence of an official announcement".
"Iniesta's arrival would be beneficial for Chongqing and a great bonus for our brand", Gong said.
Guardiola heaped praise on the 33-year-old, adding: "You can not imagine what has happened with this legacy for Barcelona and Spanish football these 15 years he was there".
Iniesta has played for the club through its youth ranks since 1996, and has made over 650 first-team appearances over 16 seasons.
"Andres is a spectacle", said Barcelona coach Ernesto Valverde.
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Meanwhile, David Weir won the men's elite wheelchair race for an eighth time, the Briton beating Switzerland's Marcel Hug in a sprint finish.
Iniesta himself had said that he will confirm his decision this week.
"It is a decision that I will communicate to the club first and then you will find out".
"This week I will speak about the decision I make, as a person and as an athlete".
While Tianjin Quanjian and Hebei Fortune remain keen on his services, latest reports suggest Chongqing Dangdai Lifan have won the race for Iniesta.
Desports, a sports marketing agency owned by the Chinese billionare, has worked closely with Iniesta for years and the footballer has travelled to Chongqing for promotional events in the past.
Some sports critics have frowned upon the move saying the little known club in Chongqing - whose only title was winning the Chinese Cup in 2000 - was no place for the Spaniard who was part of the winning Spain team at Euro 2008 and 2012.
Lizhang made headlines in England a year ago by hiring Tony Adams as manager of Granada, a Spanish football club he owns.