United also have the option to buy the 30-year-old on a permanent deal once his loan expires.
Negotiating an extension is a possibility if the season spills over into the summer, but it is said that United are ready to strike a £15m permanent deal for the Nigerian global anyway.
Fifa, Uefa and FifPro, the world players' union, have already indicated that clubs will be able to agree short-term contract extensions due to the coronavirus although how that will operate is yet to be decided.
Ighalo signed for United on transfer deadline day in January and the agreement is only in place until the end of May due to the Chinese season.
Shanghai, who did not require a loan fee in January after the Premier League outfit agreed to pay £130,000 a week towards Ighalo's wages of £300,000 a week, are prepared to sell him for a rather affordable fee.
The former Watford striker has scored four goals in three starts for the club he supported as a boy, including a stunning opener in the Europa League last-16 first leg at LASK the day before football was suspended.
For those who questioned bringing in a 30-year-old playing in China, what many couldn't have appreciated is Ighalo's desire, his love of Manchester United, and his adeptness at finding the back of the net.
"Talking about other things now would not only be selfish but terribly insensitive", he said on the weekend. "You can't put football before health challenges".
And the Norwegian boss has hinted that they need Ighalo's kind of motivation beyond the present season, suggesting that his move could be made permanent.
"And we will still need those qualities next season - so let's see what we will do".