[Hubei: Implementing the "First Subsidy and Second Share" Reform of Provincial Fiscal Science and Technology Funds] On September 15th, Hubei held a press conference on "Deepening Fiscal and Financial Collaboration to Empower Technological Innovation and High-Quality Development". According to the Hubei Provincial Department of Finance, it will improve the fund's comprehensive performance evaluation system and implement government investment income distribution; improve the due diligence exemption mechanism, increase the loss tolerance rate of seed funds invested in the "0 to 1" stage from 50% to 80%, and the maximum loss tolerance for a single project is 100%; implement differentiated assessments, and "not judge heroes by revenue" for the performance of early-stage funds such as seed funds, focusing on the quantity and quality of seed projects, and encouraging funds to "be able to invest, willing to invest, dare to invest, and invest well." This year, the provincial-level fiscal science and technology funds "first subsidize and then share" reform will be implemented. A single science and technology innovation project can be supported up to 3 million yuan. It adopts the method of free subsidy first and then market-oriented equity conversion. The joint seed fund continues to fill the front-end funding gap for the transformation of scientific and technological achievements.