China's Commerce Ministry on Friday denied conducting a study on European Union subsidies for telecom firms, and said any such protectionist measure is unacceptable.

The ministry, in a statement statement, said it would pay close attention to information about alleged European telecom subsidies in a report referred to by the Wall Street Journal.

Earlier this week the WSJ reported that a study by the Chinese ministry had found that EU member countries had provided funds, including 9.1 billion euros ($12.5 billion) for research and development, to three large European telecom-equipment manufacturers between 2007-2013.