Winger Walcott is £30m target for the big spending Toffees – who are aiming to replace long term injury plagued wide-man Yannick Bolasie.
The England star is yet to impress during pre-season preparations he attempts to shrug off the interest with the Gunners moving their from Australia to the far east.
Walcott came on after 66 minutes in their friendly with Western Sydney Wanderers and is expected to face Bayern Munich on Wednesday in Shanghai.
He prepared for the clash by getting stuck in during a session with his Gunners teammates.
Walcott lost his place in Arsenal’s starting XI at the end of last season, starting just once after making outspoken remarks in a TV interview following an early April defeat at Crystal Palace.
And the former Southampton man said: “I was the captain for the day, no-one else was going to come out. I felt like I had to say something and it’s out there and it doesn’t really matter. The team went on to do quite well after all those games.
“There was a reaction and that’s what we wanted.
“There was a lot of unhappy faces in the dressing room. We all got together, worked hard and got results in the end.
“We turned it around with results, we just missed out on the top four which was disappointing but considering how it went through the season, winning a trophy which is always something nice to look back on, it was fairly positive.”