突发！美国会通过立法，锁死对华科技投资，尤其是半导体与微电子、人工智能、量子信息等领域的投资！

Core Viewpoint - The recent signing of the National Defense Authorization Act (NDAA) by President Trump has formalized and expanded restrictions on U.S. investments in advanced technology sectors in China, indicating a bipartisan consensus in the U.S. government to prevent capital flow into these areas [1][4]. Summary by Sections Existing Restricted Areas - The NDAA reinforces previous restrictions on core areas such as semiconductors (chips), quantum information technology (quantum computing and communication), and artificial intelligence (AI technologies applicable to military and surveillance) [2]. Newly Added Restricted Areas - The act expands the scope of restrictions to include drone technology, specifically targeting companies like DJI and Daotong Intelligent, prohibiting the U.S. Department of Defense from purchasing their products and requiring supply chain risk assessments [2]. - Other newly restricted areas include lidar technology, biotechnology, quantum information science, hypersonic technology, autonomous robotics, and network technology, all aimed at slowing down China's industrial development [2]. Investment Exceptions - Not all investments are restricted; exceptions include index funds, publicly traded stocks, and passive investments that do not involve active participation in company operations. Additionally, previously completed compliant investments are not subject to retroactive withdrawal [2]. Regulatory Framework - A strict regulatory framework has been established, requiring U.S. entities to report sensitive investments in China to the Treasury Department for security review. Violations may result in fines and mandatory divestment [3]. - This regulation applies not only to domestic entities but also to U.S. companies' overseas branches, with multiple government departments collaborating to monitor compliance [3]. Implications for U.S.-China Relations - The NDAA marks a shift to a "hard constraint" phase in U.S.-China technological competition, making it more challenging for capital flows between the two nations and potentially disrupting global technology investment order and supply chain dynamics [4].