SWM is Chongqing Dangdai Lifan's title sponsor and Gong told Xinhua that SWM was "looking forward to seeing Iniesta playing a vital role in the club".
Various reports claimed that a three year deal with Guanjian has been agreed and that he will get paid 37m euros for his stint in Asia, but a second offer from Chongqing has since followed.
The club, referred to in some quarters as Chongqing SWM this season, are owned by billionaire Jiang Lizhang who also has interests in Spanish side Granada, Italian club Parma and the Minnesota Timberwolves of the National Basketball Association.
Last summer, Iniesta accepted an invitation by Jiang to pay a visit to Chongqing.
Chonqing club president Jiang Lizhang, who is also the chairman of Spanish LaLiga side Granada, and his marketing agency Desports have already worked with Iniesta before, and a reported deal for the veteran's transfer appears likely.
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The experienced midfielder is expected to make an official announcement about his future after this Saturday's Copa del Rey final against Sevilla.
Reports from Spanish media this week suggested that Iniesta's move to China was as good as done, according to his lawyer, despite not confirming a specific club.
He also met the president of the club as part of a sponsorship deal with Nissan, leaving many to predict that Chongqing are now in pole position to sign the World Cup victor.
Tianjin Quanjian were the early favourites, whilst Hebei China Fortune were believed to want to reunite Iniesta with his former Blaugrana teammate, Javier Mascherano.
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