风险提示：基本面变化超预期、流动性变化超预期、监管政策超预期、外部风险超预期。 1.6月流动性复盘 1.1 6月资金超预期宽松，且稳定性较高 6月DR001月度均值为1.39%，较5月下行11bps，流动性在跨半年末呵护下超预期稳定宽松，主要特征包括： （1）自1月资金一度收紧之后，DR001首度向下突破政策利率，且向下突破后主要在DR001下方稳定运行，6月一共20个工作日，其中14个工作日DR001 都运行在政策利率下方，且其中曾有9个工作日DR001都连续保持在1.37%。 （2）6月5日收盘超预期提前公布3M买断式逆回购10000亿元，将于6月6日操作，首度打破常规，且月内两度操作买断式逆回购，第二次为6月13日公告、 6月16日操作6M买断式逆回购4000亿元。自6月起，买断式逆回购的公告和操作模式向MLF看齐，改为T-1日尾盘公布、T日操作。事后来看，6月买断式逆 回购分两次操作可能并非新的一般规律，而是破例将3M期限的操作单独提前，一方面是提前对冲6月5日晚间对债市的潜在利空，以呵护6月6日上午10年 一般国债和30年超长特国发行，另一方面提前应对6月存单史高的到期规模，提前给债市吃下定心丸，也 ...

Core Viewpoint - The article provides a step-by-step guide on how to issue blue invoices for the sale of self-produced agricultural products, emphasizing the ease of the process through digital platforms [2][3]. Group 1: Invoice Issuance Process - Step 3 outlines the navigation path to access the blue invoice issuance section on the electronic tax bureau [2]. - Step 4 involves selecting the type of invoice, specifically ordinary invoices or those for specific businesses like self-produced agricultural products [2]. - Step 5 requires filling in the buyer's information, including the company name and tax number, with an option to skip the tax number for individual buyers [3]. - Step 6 details the need to input project name, unit, quantity, and other relevant information in the invoice [3]. - Step 7 emphasizes the importance of previewing the information before clicking to issue the invoice [3]. Group 2: Common Questions and Policy References - Q1 addresses the types of self-produced agricultural products eligible for VAT exemption, which includes products directly sold by agricultural producers [3]. - Q2 explains how individuals can apply for invoices for self-produced agricultural products through platforms like "Yue Tax Pass" and the electronic tax bureau app [3]. - The article cites relevant policy documents, including the "Interim Regulations on Value-Added Tax of the People's Republic of China" and the notice on the taxation scope of agricultural products [3].

Core Viewpoint - Taxpayers can choose to waive their entitlement to VAT exemptions or reductions by submitting a written declaration to the tax authority, which must be recorded [2][3]. Group 1: Applicable Situations - Taxpayers selling goods or providing taxable services can opt to waive VAT exemptions or reductions and must report this to the tax authority [3]. - Export enterprises can also choose to waive VAT exemptions on exported goods and services, treating them as domestic sales for tax purposes [3]. Group 2: Processing Path - Taxpayers can process the waiver through the electronic tax bureau by navigating to the relevant module and filling in necessary details such as enjoyed items, reduction amounts, and applicable periods [4]. - Alternatively, taxpayers can visit the tax service hall with required documents, including the VAT taxpayer waiver declaration forms [5]. Group 3: Required Materials - The following materials are needed for the waiver declaration: 1. Two copies of the VAT taxpayer waiver declaration form [6]. 2. Two copies of the export goods and services waiver declaration form [6]. 3. Original identification documents of the taxpayer [6]. Group 4: Important Reminders - Once a taxpayer waives their VAT exemption or reduction, they cannot apply for these benefits again for 36 months for the waived items, although this does not apply to other tax reduction items [7]. - From the month following the submission of the waiver, VAT must be calculated and paid according to applicable rates for all taxable goods and services sold [7]. - Taxpayers can waive both previously enjoyed and unutilized exemption items without time interval restrictions [7].