Chinese President has offered the Arab states of the Persian Gulf and Iran to hold a summit in Beijing this year, the informed sources said on Sunday.

Iran Press/ Asia: Xi Jinping made the proposal at a regional summit in Saudi Arabia’s capital of Riyadh last December, sources told the newspaper on Sunday, adding that a summit between Iran and the six-nation Persian Gulf Cooperation Council (GCC) should take place in 2023.

According to The Wall Street Journal, China wrapped up a deal to restore relations between Iran and Saudi Arabia on Friday, behind closed doors in Beijing.

Iran and Saudi Arabia now have two months to agree on the details before reopening embassies. Sources told The Wall Street Journal that Saudi and Iranian foreign ministers are expected to meet to seal the deal soon and the GCC summit with China will come "sometime after that."

Iran has already agreed not to encourage cross-border attacks on Saudi Arabia from Yemen by the Houthi rebels, while Saudi Arabia has agreed to tone down critical coverage of Iran, US, Saudi and Iranian officials told the newspaper.