Aubameyang has been a long-term target for teams in China and the fact Arsenal missed out on the Champions League means they believe he could be tempted to leave the Emirates Stadium.
Arsenal also need to cut costs during the summer transfer window, according to The Times.
Arsenal are in a battle to keep hold of Pierre-Emerick Aubameyang in the summer window
Now Guangzhou Evergrande and Shanghai SIPG have gone back in for Aubameyang, who has been approached over transfers to China twice before.
Guangzhou attempted to sign him in a £62million switch just weeks before he moved to Arsenal from Borussia Dortmund back in January 2018.
Tianjin Quanjian had agreed a £71m move for the Gabonese striker six months prior, but the move fell to pieces after the transfer window closed.
Guangzhou Evergrande and Shanghai SIPG have offered him £300,000-a-week to move
The 29-year-old forward was the Premier League’s joint top scorer last season, with 22 goals.
Aubameyang and Arsenal failed to qualify for the Champions League after finishing fifth in the top flight and losing 4-1 in the Europa League final against Chelsea.
Their absence from Europe’s elite club competition already saw them suffer a £35m drop in ‘football revenue’ in their accounts for 2017-18.
Arsenal will need to cut costs after missing out on the Champions League again this season