The move, which observers have dubbed a "big breakthrough", comes during President Xi Jinping's three-nation tour of Middle East.
President Xi Jinping pays state visit to Saudi Arabia, Egypt and Iran from Jan 19 to Jan 23.
Xi's Middle East tour marks China's first major diplomatic event in 2016, which is of great significance, and the world is paying much attention to it.
President Xi Jinping's trip to the three Middle Eastern countries - Saudi Arabia, Egypt and Iran - is the first in years for top Chinese leader personally getting involved in state diplomacy in this region. The trip is significant both for China and the regional countries in substantial terms in the areas of energy, security and economic matters.
China and the Gulf Cooperation Council have agreed to accelerate the pace of negotiations, review progress and hold talks in February.
Visiting Chinese President Xi Jinping met with the Organization of Islamic Cooperation (OIC) Secretary-General Iyad Ameen Madani in Riyadh on Tuesday to discuss regional issues and cultural exchange.
The Ningxia Hui autonomous region is to co-develop more TV programs with Arab countries and strengthen cultural exchanges this year.
A new business hub widely known as Madinat al-Hareer, or Silk City, is expected to be completed by 2035 in northern Kuwait to serve as a new major stop on the ancient Silk Road trade route.
President Xi Jinping will deliver a speech at the Arab League headquarters in Cairo during his state visits to Saudi Arabia, Egypt and Iran.
Chinese President Xi Jinping's upcoming visit to Saudi Arabia, Egypt and Iran is set to highlight China's constructive role in promoting peace and development in the Middle East.
Media from China and the League of Arab States were encouraged to be offered greater cooperation and exchanges against the backdrop of global terrorism during a media dialogue in Cairo on Monday.
President Xi Jinping's upcoming visit to Saudi Arabia, Egypt and Iran will highlight China's constructive role in promoting peace and stability in the Middle East, Deputy Foreign Minister Zhang Ming said on Monday.
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