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Companies with risky business expansion will be targeted and regulators will blacklist senior management for practices that violate regulations and laws, according to the statement.

Compared with these export-oriented enterprises, companies focused on domestic market are likely to resume growth more smoothly, and make up their loss of the first quarter. Dong predicted that these enterprises will bottom out in the first half of this year at best.

Cohn was Goldman's No 2 executive when Trump named him as his top economic adviser. Cohn also had been seen as a possible chairman of the Federal Reserve.

Conglomerates also face challenges, such as varied business environments in foreign countries, according to Chen.

Coined by Alibaba Group Holding Ltd in 2009, the Nov 11 shopping gala－the world's largest single-day discount event－will see transaction volume top 152 billion yuan (.9 billion) this year, up 26 percent from a year ago, according to estimates from consultancy Oliver Wyman.