Sichuan: Launch pilot program of "Investment first, shareholding later" using fiscal funds.

The People's Government of Sichuan Province recently issued the "Implementation Plan for Systematically Promoting Scientific and Technological Innovation and Technology Transfer." The "Implementation Plan" points out the need to increase the guiding role of financial investment in science and technology. It will optimize the distribution and use mechanism of financial research funds, focus on optimizing expenditure directions, and build a competitive and stable investment mechanism. Deepen the reform of science and technology plan management, support key science and technology projects set up by eligible localities, departments, and innovation entities, and incorporate them into the provincial science and technology plan management system. Improve the mechanism for organizing and implementing science and technology projects, improve the way major scientific and technological tasks are condensed and generated, and promote project organization methods such as "open bidding for leadership," targeted commissioning, competition system, and chain master system. Strengthen policy guidance in areas such as enterprise R&D investment and technology service industry, and promote the "Science and Technology Innovation Voucher" system across the province. Carry out a pilot project of "investment first, then share" with government funds, and explore the conversion of pre-investment government funds for science and technology projects into company equity.