计算机：特朗普政府科技政策回顾及展望

Investment Rating - Investment recommendation: Outperform the market (maintained) [4] Core Insights - The Trump administration's technology policy emphasizes "self-reliance" domestically and "weakening" foreign competitors, particularly China. The Biden administration has largely continued this approach, and a potential second term for Trump may further intensify restrictions on Chinese technological development. The report suggests focusing on domestic leaders in sectors such as basic hardware, software, application software, and cybersecurity [2][5][24]. Summary by Sections 1. Review of Trump Administration's Technology Policy - The Trump administration shifted focus to domestic technology development, emphasizing national security and future industries such as artificial intelligence and quantum information science. The administration's core strategy is to maintain technological leadership globally [5][9][10]. 1.1 Domestic "Self-Reliance" and Development of Future Industries - The administration identified key areas for development, including dual-use technologies critical for economic and military security, such as AI, quantum information science, and advanced communications [12][13]. 1.2 Foreign "Weakening" and Expansion of Export Controls - The Trump administration implemented trade protectionism, particularly against China, by expanding export controls and placing Chinese companies on various lists to limit their access to U.S. technology [16][18]. 2. Outlook for Trump Administration's Second Term - The Biden administration has continued the overall strategy of the Trump administration, increasing funding for technology and maintaining a competitive stance against China. The report anticipates that a second Trump term may lead to even stricter measures against Chinese technology development [19][20][22]. 3. Investment Recommendations: Focus on Self-Reliant Supply Chains - The report recommends investing in domestic IT hardware, software, and services, highlighting companies such as Zhongke Shuguang, Unisplendour, and Kingsoft as potential leaders in the market [24].