China will step up policy adjustments to support growth - state media

China will step up policy adjustments and strengthen policy coordination to support the economy in 2023, according to an official statement issued on Friday following an agenda-setting meeting of the country's top leaders.

China will implement a proactive fiscal policy and a prudent monetary policy next year, said the statement, issued after the annual Central Economic Work Conference held from Dec. 15-16 and published by the official Xinhua news agency.

China's economy faces relatively big pressures from shrinking demand, supply shock and weakening expectations, Xinhua said.