The Chinese transfer window closed on Friday and a deal could not be reached for the 35-year-old Santos forward, who was the leading scorer in last season's Brazilian league championship, Xinhua reported.
Santos club president Modesto Roma Junior had previously said that the striker could leave for 12 million euros (about $13.25 million).
The values involved in the negotiation have not been revealed to the press, but Oliveira had agreed to pay $4.5 million of his own money to force through a transfer.
However, after the collapse of the deal, Oliveira confirmed he will continue to honour his contract with Santos, which expires at the end of the 2017 season. (IANS)