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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 economy has maintained overall stability. The country's GDP expanded 6.2 percent year-on-year in the first three quarters of 2019, data from the National Bureau of Statistics showed. Investment in high-tech manufacturing and high-tech services rose 14.5 percent and 13.7 percent year-on-year.

China's economic recovery picked up steam in the third quarter as activities normalized amid effective control of the COVID-19 pandemic and the Chinese government's sweeping efforts to stimulate demand and consumption, according to official data.

China's drone manufacturing industry has expanded rapidly in recent years, thanks to their extensive use in surveying and mapping. E-commerce giants Alibaba and JD also use drone deliveries.

China's new energy vehicle giant BYD Co Ltd announced on Tuesday evening the restructuring of its wholly-owned subsidiary — now named BYD Semiconductor Co Ltd — in a bid to deeply integrate its semiconductor business, offer better products to the industry, and actively seek an independent listing at an appropriate time.