RISC-V instruction set architecture has gradually gained a place in IoT (Internet of Things) and embedded systems owing to its advantages of low cost, low power consumption, and high design flexibility. Over the years, several American manufacturers and startups have begun to develop products in the areas of servers and high-efficiency computing. Meanwhile, buoyed by strong government support, Chinese manufacturers have made progress in implementing RISC-V into PC and mobile phone applications, and further have actively developed the RISC-V industrial ecosystem. They aim to overcome the harsh sanctions the U.S. has imposed on China’s semiconductor sector and achieve China's long-running goal of self-sufficiency in semiconductors by setting up a complete domestic chip supply chain. This report analyzes the current development status of RISC-V manufacturers in the United States and China and examines the development trends of RISC-V in various applications.