Does China have chaebols?

Does China possess chaebols, similar to those found in South Korea? Are there large family-owned conglomerates that dominate certain industries and exert significant influence on the economy? If so, how do these chaebols operate and what kind of impact do they have on China's overall economic landscape? Alternatively, does China's economic system differ, resulting in the absence of such entities? Could you elaborate on the unique characteristics of China's business environment and the role of its largest companies?