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"Faced with high repayment pressure, domestic property owners are expected to have to offload their properties to pay down debt. The market is forecast to see a price correction in 2019, when sellers become more pressured to sell properties in the slow market," Macdonald said.

"Everyone will see strong efforts pushing for reforms and restructuring, especially market-oriented restructuring, of small and medium-sized banks this year," Cao said.

"Efforts should be made to keep employment, the financial sector, foreign trade, foreign and domestic investments and expectations stable," read a statement released after the meeting.

"Europe and China combine to make up anywhere from 30 to 40 percent of our exports every year. So this will be a huge hit to the lobster industry," Annie Tselikis, executive director of the Maine Lobster Dealers' Association, told Portland, Maine-based TV station WGME.

"Diamond jewelry is expensive and people buy it less frequently. They usually purchase after careful consideration. So, only renowned brands and top-quality diamonds with beautiful designs are more sought after by consumers," said Li Zheng, research manager at Lead-Leo.