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China's manufacturing sector contracted slightly in June according to the latest purchasing managers indexes, but factory activity may pick up later given the indexes' structural improvements and potential policies to boost consumption, analysts said on Monday.

China's defense spending is "reasonable and appropriate" and accounts for a relatively low percentage of the country's GDP and government expenditure compared with other major countries, a defense white paper published on Wednesday said.

China's commissioner for the State Administration of Taxation told a global conference at the United Nations on Wednesday that China is willing to collaborate on developing an international tax protocol and cooperate on tax administration.

China's leading Wanda Film Holding Co Ltd reported an estimated drop in first-half profit of between 55 percent and 65 percent year-on-year to between 481 million ( million) and 619 million yuan, compared to the same period in 2018 when the company's profit hit 1.38 billion yuan.

China's first domestically designed aircraft carrier embarked on its second sea trial on Monday from its shipyard in Dalian, Liaoning province.