China is predicted to bolster global economic recovery in 2023.

Given the resiliency and potentials of its economy, economists anticipate that China will continue to be a reliable and significant player in 2023.

In the face of multiple challenges this year, China has maintained the overall stability of its economy by effectively coordinating COVID-19 policy with economic and social development, and by introducing a series of stimulus packages to support enterprises, stabilize consumer prices, and boost investor confidence.

The annual Central Economic Work Conference, which was held in Beijing from Thursday to Friday, predicted that China's economic performance in 2023 will have a general rebound and improvement.

The Central Economic Work Conference, which elaborated on the fiscal and monetary, industrial, science and technology, and social policies for 2023, made economic stability its top goal and demanded that steady development be made while ensuring economic stability for the following year.

According to a meeting called by the Political Bureau of the Central Committee of the Communist Party of China earlier this month, China has also vowed to increase domestic demand and to give full play to the fundamental role of consumption and the crucial role of investment in 2023.

Observers expect the Chinese economy will do well in 2023, based on the fact that Beijing has numerous policy levers at its disposal to ensure a sustainable recovery.

The managing director of the International Monetary Fund, Kristalina Georgieva, stated that China possesses the fiscal space to stimulate its economy and counteract the downward trend.

"We foresee three to four quarters of high growth beginning in the second or third quarter of next year," analysts at the international financial services firm Societe Generale said, predicting the Chinese economy may increase by about 5 percent in 2023.

In a recent analysis, Morgan Stanley forecasted that China would mount a return by the middle of 2023, hitting a 5 percent annual growth rate.

Multiple good signs and indicators underpin the analysts' optimism.

Monday's research note by UBS strategists Christopher Swann and Vincent Heaney stated, "Since the beginning of November, Chinese equities have surged 37 percent due to several favorable reopening signals from Beijing."

In the meantime, a multitude of global companies are growing their operations and investments in China. According to official figures, foreign direct investment in the Chinese mainland increased 17.4 percent year-over-year to 168.34 billion U.S. dollars in the first ten months.

Volkswagen, a German automobile manufacturer, has stated that it will invest up to $3 billion in two new R&D-focused joint ventures in China during the second half of 2022.

"The largest corporations that have invested billions of dollars in local assets are remaining put and executing their investment plans," Rhodium Group reported in a report released on Tuesday, highlighting investors' confidence in China's economic outlook.