Beijing's UN Ambassador Zhang Jun told reporters that his group had heard the proposal, which was an attempt to end the crisis and secure peace in the Middle East.
"For China, we definitely support it," said the ambassador.
The proposal was presented after another meeting of the Security Council where it was not possible to agree on a joint statement.
Occasional attacks
On Tuesday night, rockets were fired at Israel from Gaza.
And Wednesday began with sporadic attacks on the Gaza Strip, and low-flying Israeli warplanes keeping the population awake.
Mother of seven Randa Abu Sultan says her family barely knows what sleep is anymore.
-We are all terrified of the sounds of explosions, robots and fighter jets.
We all sit together in the same room.
My four-year-old says he is afraid that if he falls asleep he will wake up and find us other dead, she tells the news agency AFP.
Information on ceasefire
On Tuesday night, unconfirmed reports circulated in the Israeli media that a ceasefire was being negotiated between Israel and Hamas.
A Hebrew television channel claims that Egypt has a negotiated proposal for a ceasefire to take effect at 6 o'clock on Thursday morning.
According to an article in the Times of Israel, Hamas is said to have agreed to the proposal, but Israel has not yet responded.
However, Israeli Prime Minister Benjamin Netanyahu reiterated earlier in the day that attacks on Gaza will continue for as long as necessary to "restore calm to the people of Israel."