Core Viewpoint - The China Asset Appraisal Association (CAAA) has released the "Implementation Opinions on Anti-Unfair Competition Behavior" to protect public interests and the legitimate rights of appraisal institutions, encourage fair competition, prevent "involution" competition, and promote high-quality development in the asset appraisal industry [1]. Summary by Sections Anti-Competition Standards - The "Implementation Opinions" define standards for low-price competition, stating that if an appraisal institution's bid is below 50% of the average bid of all compliant institutions, competitors can report this behavior [2][3]. Mutual Supervision - Appraisal institutions are encouraged to supervise each other to resist unfair competition and maintain a fair competitive environment. They can report suspected unfair competition to various authorities, including the CAAA and local associations, providing evidence for investigation [4]. Legal Recourse - Institutions that believe their rights have been harmed by unfair competition can file lawsuits in people's courts [5]. Evidence for Reporting - Institutions can provide evidence of low-cost bidding through various means, including bid prices, cost accounting, and historical charges. Specific thresholds for reporting include bids below 50% of the average bid and below 45% of the maximum project price [6][7]. Industry Self-Regulation - The CAAA and local associations are tasked with strengthening industry self-regulation, guiding appraisal institutions to compete legally, and establishing monitoring mechanisms for bidding behavior. They will focus on investigating reported unfair competition and may impose penalties for non-compliance [8]. Market Overview - As of June 2024, there are 272 securities appraisal institutions in China, a decrease of 9 from the previous year. The majority are located in major cities like Beijing, Shenzhen, and Shanghai, accounting for 61.8% of the total [9]. Workforce and Revenue - By the end of 2023, there were 9,282 asset appraisers, a 4.2% increase year-on-year. The total revenue for securities appraisal institutions reached 11.27 billion yuan, a 3.0% increase, with asset appraisal income making up 75.4% of total revenue [10][11]. Report Generation - In 2023, 213 securities appraisal institutions issued 12,069 asset appraisal reports, a 26.8% increase from the previous year, with 91.4% of these reports issued for listed companies [12]. Regulatory Updates - By the end of 2024, the Ministry of Finance and the China Securities Regulatory Commission will revise the "Filing Measures for Securities Service Business by Asset Appraisal Institutions," tightening filing requirements and enhancing ongoing supervision [13].

Group 1 - The article discusses the distinction between zero VAT rates and exemptions, providing clarity on VAT policies for companies operating internationally [1][3]. - Companies renting tangible assets located abroad are exempt from VAT [3]. - Services provided to foreign entities that are consumed entirely outside of China, such as asset appraisal and telecommunications, are also exempt from VAT [3]. Group 2 - Advertising services provided to foreign entities, where the advertising is placed entirely outside of China, are exempt from VAT [3].