Second in the scoring charts in Greece with 13 goals in 21 starts for Asteras Tripolis, the Melbourne-raised striker only has to complete the formality of a medical to seal the move just a day before the Chinese transfer window officially closes.
The move has put him back on Ange Postecoglou's Socceroos radar, too, with a call-up for the upcoming FIFA World Cup qualifiers against Jordan and Tajikistan a real possibility.
Giannou has played one friendly international for Greece which leaves him able to switch allegiance should he choose to.
Should the call come from Postecoglou, who coached Giannou in the Australia Under-17 team, and he plays in either of the FIFA World Cup qualifiers, Giannou will be tied to Australia.
He could then turn out against Greece, in green and gold, in the friendly international in June in Sydney.
Giannou’s switch follows close on the heels of Trent Sainsbury's move from the Netherlands to big-spending Jiangsu Suning, Socceroos icon Tim Cahill, who has joined national teammate Matthew Spiranovic at Hangzhou Greentown after his exit from Shanghai Shenhua, and the arrivals of James Troisi and Michael Thwaite at Liaoning Whowin. Ryan McGowan, meanwhile, signed for Henan Jianye from Dundee United.
Giannou, 25, spent nine years in Greece – but this season has easily been his most potent and brought him to the attention of clubs across Asia and also Europe.
Contracted until mid-2018 at Asteras, who are sixth in the Greek Super League, it’s believed the club will receive a $3 million transfer fee for their main strike weapon.
The dual nationality forward will link up with Serbian coach Dragan Stojković, who captained Red Star Belgrade and the former Yugoslavia during a decorated career, and becomes the fourth foreigner on the books of a club which finished third last on the ladder in 2015.
The others are Brazilians Retatinho, a midfielder, fellow striker Bruninho and Swedish midfielder Gustav Svensson.