计算机行业周报：信创正站在新一轮拐点

Investment Rating - The report maintains an "Outperform the Market" rating for the computer industry [1] Core Viewpoints - The industry is at a new turning point with significant government support and funding initiatives aimed at enhancing technological self-reliance and innovation [1][3] Summary by Relevant Sections Government Budget Outlook - The fiscal policy is expected to improve with the issuance of long-term special bonds totaling 1 trillion yuan, aimed at major national strategies and security capabilities [2] - The Ministry of Finance has outlined plans for 22 issuances of general and special bonds from May to November 2024, focusing on 20, 30, and 50-year maturities [2] - Local governments are accelerating the implementation of financial subsidies for equipment renewal loans, promoting support for technological upgrades [2] Funding Support for Technological Innovation - A new 500 billion yuan re-lending program has been established to support technological innovation and equipment upgrades, with a low interest rate of 1.75% [3] - The central budget for 2024 allocates 468.8 billion yuan for core technology breakthroughs and high-level technological self-reliance [3] Policy Developments in the Industry - Continuous efforts are being made to establish reliable safety standards for procurement in government agencies, with recent updates to procurement requirements for computers [3] - The demand for domestic alternatives in government and various industries is increasing, as evidenced by recent procurement results showing 100% domestic sourcing [3] Investment Recommendations - Key areas of focus include foundational software and hardware, with recommended companies such as China Great Wall, China Software, and Kingsoft [4] - The industry of information technology innovation (信创) is highlighted, with companies like Topoint Software and Zhiyuan Interconnect recommended for investment [4]