The consortium has been linked with a move to take over Everton if the deal in place with US investors falls through, according to the Sunday Times.
The Blues are currently under a period of exclusivity through the month of January as a US consortium made up of John J Moores, Charles Noell and their partners explore the clubs finances and decide if they wish to pursue a reported £200m deal.
The Chinese consortium is reported to step into negotiations if the reported deal falls through and will likely go through their own period of exclusivity to the clubs finance.
The rumours of a takeover have picked up pace over the past few months after a long wait of questions posed to the current Everton board by fans. A protest was planned for several games this season with several banners flying over home and away games in an attempt to force the current management out.
Although, with recent takeover news rife in the past few months protesting Evertonians have given the club time in the hope that they choose the right deal for the club.
According to the article, the investors in City Football Group are led by media, entertainment, sports and internet-dedicated investment and operating company CMC (China Media Capital) Holdings.