China's top diplomat has hailed his country for mediating a deal to reestablish diplomatic ties between Iran and Saudi Arabia.

Wang Yi was speaking on Friday after high-level officials from Tehran and Riyadh wrapped up talks that began on Monday in Beijing.

He described the outcome as "a victory for dialogue and peace" and "major good news at a time of much turbulence in the world."

Wang also said, "China has faithfully fulfilled its duties as the host."

He added that Beijing will continue to play a constructive role in "handling hotspot issues in the world and demonstrate its responsibility as a major nation."

Tehran and Riyadh cut diplomatic ties in 2016 after protesters in Iran attacked the Saudi Arabian embassy following the execution of a Shia Muslim cleric.

Chinese President Xi Jinping visited Saudi Arabia in December for talks with King Salman and Crown Prince Mohammed bin Salman.

Xi also met Iranian President Ebrahim Raisi in Beijing in February.