On May 6, Chinese Foreign Minister Wang Yi met Iranian Foreign Minister Abbas Araqchi in Beijing, urging an immediate cease-fire in the Iran-US conflict and resumption of normal shipping through the Strait of Hormuz. Wang pledged China would work harder to restore Middle East peace, stressing that hostilities must end completely. This diplomatic effort coincides with media reports of a pending one-page agreement between Iran and the US, involving Iran halting nuclear enrichment, the US lifting sanctions and releasing frozen Iranian funds, and both sides easing Strait restrictions. The talks occur just before the scheduled Trump-Xi summit. Iranian commentators see Araqchi's visit as vital to preempt US influence on China's Iran policy and propose $20 billion in Chinese financing to counter US naval blockade.