The A-League club originally loaned out the striker to Beijing for a year before a transfer dispute arose between the two clubs where the Chinese outfit wanted to pay $350,000 outright for him but the Jets wanted more.
On Friday it was agreed on the $450,000 Newcastle wanted and today the green light was given for the 30-year old to join Beijing on a two-year deal which was confirmed by CEO John Tsatsimas.
"We are glad that we maintained the position that we did with respect to this matter. We were quite happy for the matter to have been finalised via arbitration and were very comfortable in terms of the position we took," Tsatsimas said.
"After the hearing was concluded, the player's management contacted the club the following morning in an attempt to find a resolution that was suitable to Newcastle Jets. The subsequent offer made was more appropriate in our view.
"It was vitally important that we took the stance to ensure that foreign clubs show the Hyundai A-League and its participating clubs the respect it deserves.
"We are glad that this matter is finally at an end. Newcastle was a very successful period for Joel in his career and we wish him every success at Beijing."