China on Friday hit back at a U.S. trade complaint against the country's aluminum industry, saying the allegation had no basis.
The United States has filed a trade complaint with the World Trade Organization (WTO) against China for allegedly dumping aluminum on the global market at artificially low prices.
China regrets the U.S. decision to file the complaint but will properly handle the issue according to WTO rules, the Ministry of Commerce said in a statement on its website.
"China's aluminum market is a highly competitive and commercialized industry, and relevant loans and raw material purchases have been fully marketized," it said, adding that the alleged subsidy problem does not exist.
Overcapacity facing certain industries is a global problem, whose root cause is a tepid global economic growth and weak demand, a common challenge that needs to be tackled through shared efforts, the statement said.
