BEIJING - 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.

(Reporting by Beijing newsroom Editing by Raissa Kasolowsky)