Despite a series of mergers and acquisitions in the world's aluminum industry, Xiao said Chinalco now has no plans to buy its global rivals.

Related readings:  Fujian builds aluminum processing base  Chalco aims to buy out Baotou to consolidate  Chalco to issue bonds  Bid to curb overheating in aluminum industry

In May, the world' largest aluminum company Alcoa of the US said it agreed to buy the world's second-largest aluminum company Alcan in Canada.

"Now is not the best time for us to acquire foreign companies. We are making efforts to make our company more multinational," he said. Instead, Chinalco chose to "buy many domestic aluminum companies to increase its capacity".

"Now our sales focus more on the domestic market. We aim to increase our overseas sales to one-third of the total in the next 5 to 10 years."

Last year sales revenue of the company was around $13 billion, a growth of more than 30 percent year-on-year.