A number of ranking officials from China's Ministry of Foreign Affairs attended the banquet.
Zarif held a meeting with Wang Yi before attending the banquet and talked to reporters in a joint press conference with his Chinese counterpart, IRNA reported.
He will meet with China's Vice Premier Zhang Gaoli in the coming hours.
Zarif heading a high ranking political and economic delegation arrived in Beijing early Monday morning after a two-day visit to India.
Iranian foreign minister will attend Iran's investment opportunities forum on Tuesday.
He is slated to meet Peking University president and give a lecture in the academic center on Tuesday.
Zarif will depart Beijing for Tokyo on Tuesday.
EghtesadOnline: Iranian Foreign Minister Mohammad Javad Zarif attended a luncheon banquet given by his Chinese counterpart Wang Yi on Monday.