Core Viewpoint - The article discusses the VAT exemption policies applicable to cross-border taxable activities, highlighting the services and intangible assets that qualify for zero VAT rates and exemptions, aimed at stabilizing foreign trade and promoting international business activities [1][10]. Summary by Sections VAT Exemption Policies - Domestic units and individuals are exempt from VAT for certain services and intangible assets sold, with specific exclusions for those subject to zero VAT rates as defined by the Ministry of Finance and the State Taxation Administration [1][10]. - Services exempt from VAT include postal services, insurance services for exported goods, and various financial services provided to foreign entities [2][5]. Applicable Conditions - Taxpayers must separately account for sales related to cross-border taxable activities to accurately calculate non-deductible input VAT, and exempt income cannot be issued with VAT special invoices [5][15]. - Construction services provided by general contractors and subcontractors for projects located overseas are included in the exemption [5][7]. Specific Services Included - The article lists various services that qualify for VAT exemption, including international transportation, cultural and educational services provided abroad, and offshore outsourcing services [6][14]. - It also specifies that services provided to foreign entities that are fully consumed outside of China, such as telecommunications and financial services, are eligible for zero VAT rates [8][9]. Policy Basis - The policies are based on several official documents, including the notice on the comprehensive promotion of the VAT reform and specific announcements regarding VAT exemption management for cross-border taxable activities [19][23].

Core Points - The article discusses the tax rates applicable to various goods and services in China, highlighting the standard rates and specific exemptions for certain categories [7][8][9][10][12]. Tax Rates for Goods - The standard tax rate for the sale or import of goods is 13% unless otherwise specified [7]. - A reduced tax rate of 9% applies to specific goods, including agricultural products, water, gas, and certain publications [7]. Tax Rates for Services - The tax rate for taxable services is generally 6%, with specific services such as construction and transportation subject to a 9% rate [8]. - A higher tax rate of 13% is applicable for the leasing of tangible assets [8]. Tax Rates for Intangible Assets - The transfer of intangible assets, such as technology and trademarks, is taxed at 6%, while the transfer of land use rights is taxed at 9% [10]. - Exported goods are subject to a zero tax rate, with exceptions as specified by the State Council [10]. Zero Tax Rate Services - Certain services provided by domestic units and individuals, such as international transportation and R&D services, are subject to a zero tax rate [11][12].

Core Viewpoint - Blue Arrow Aerospace Technology Co., Ltd. has initiated the listing guidance for the Sci-Tech Innovation Board, with the guidance agreement signed on July 25, 2025, by China International Capital Corporation [1] Company Overview - Blue Arrow Aerospace was established on June 1, 2015, with a registered capital of 360 million yuan [1] - The legal representative of the company is Zhang Changwu, who, along with his controlled entity, holds 14.68% of the company's shares [1] Market Position - In the 2025 Hurun Global Unicorn List, Blue Arrow Aerospace is ranked 418th with a company valuation of 20 billion yuan [1] - The company is recognized as a leading domestic enterprise in the creation and operation of aerospace transportation systems [1] Strategic Focus - Blue Arrow Aerospace aims to build a comprehensive aerospace technology ecosystem centered around medium and large liquid oxygen-methane launch vehicles, covering the entire industry chain from R&D, manufacturing, testing, to launching [1] - The company is committed to providing high cost-performance and high-reliability aerospace transportation services to the global market [1] Regulatory Context - The initiation of the listing guidance aligns with the China Securities Regulatory Commission's recent policy to expand the applicability of the fifth set of standards for the Sci-Tech Innovation Board, supporting enterprises in cutting-edge technology fields such as artificial intelligence, commercial aerospace, and low-altitude economy [1]