In what would be a record deal for Australian football, the 29-year old is believed to be considering the new deal after rejecting a $750,000 move recently.
Younger brother Ryan is on the books at Beijing and the fact a lot of key players have left Newcastle this season could see the deal get over the line.
Jets owner Con Constantine was unsure whether or not the club will sell last season’s leading scorer.
"Yes, there is an offer on the table, and, yes, it is definitely a record offer," he said.
"From a business point of view, it's always nice when clubs around the world want your players, and as I've always said, we don't stand in the way if a player wants to go, and the price is right.
"But Joel is a bit different from the rest. We've just agreed to make him our marquee player for the next three years, we've made him our captain, and we're working towards building our team around him.
"Basically, Joel is our diamond. We need him for the Champions League, so I've got to put a lot of thought into this. They [Beijing] want him now, and it's something that has to be decided pretty soon.
"But I've got to be careful, it's such a big decision. Right now, my mind's not made up."
Ironically the Jets play Beijing Guoan in their first Asian Champions League match in March.