President Xi Jinping has stressed the need to boost economic development while ensuring stability at the Central Economic Work Conference.

According to the annual meeting, China will continue to implement a proactive fiscal policy and a prudent monetary policy in 2023, and is poised for stronger and healthier economic growth.

The conference was held in Beijing on December 15 and 16. It set the policy priorities for the world's second-largest economy in the coming year.

Xi, who's also general secretary of the Communist Party, said in a speech that development should continue to be the top priority for the party in governing and rejuvenating China.

According to Xinhua News Agency, Xi said "the country should pursue high-quality development, ensuring both appropriate economic growth and structural improvements and upgrades".

"While highlighting development as a priority, Xi also stressed adhering to the general principle of pursuing progress while ensuring stability, upholding and improving basic socialist economic systems, promoting high-level opening up, and advancing economic development under the rule of law," Xinhua added.

Xi also highlighted the need to boost domestic demand and attract quality foreign investment.

Meanwhile, an official at the office of the Central Committee for Financial and Economic Affairs said the economy is expected to see "an independent upward trajectory with an overall recovery" in 2023 despite projections of weaker global growth, thanks to an improved Covid-19 response, pro-growth policies and a low base this year.