China pushes back on industrial overcapacity claims ahead of U.S probe results

China pushed back Tuesday against claims of overcapacity in the world’s second largest economy, ahead of the release of results of a U.S. probe on the matter that could result in new tariffs. Massive capacity in a slew of Chinese industries, from automaking to solar panels, cement and steel manufacturing, among many others, has drawn increasing attention from Beijing’s trading partners in recent years. Although China’s own leaders have made rebalancing the economy a priority, slowing domestic demand has prompted companies to expand into markets overseas. Surging exports pushed China’s trade surplus to a record of nearly US$1.2-trillion last year….