The striker left Fiorentina for AC Milan in the summer for a deal worth more than £20million.
Prior to that, the Croatian had been linked with a move to Everton, who were trying to replace Romelu Lukaku.
The Toffees reportedly remain interested in Kalinic but now, according to Radio Rossonera, he could be off to China.
Guangzhou Evergrande are tracking the 29-year-old and are ready to make him a lucrative offer when the transfer window opens in January.