Three more China chip fund executives caught in corruption probe into state-backed investments

There are now at least five heavyweights connected to the so-called Big Fund under investigation by China’s anti-corruption watchdog. The corruption investigations come as China is facing strong headwinds in achieving its semiconductor self-sufficiency ambitions. — SCMP

Three more executives connected to China’s state-backed chip industry investment fund are being investigated, the country’s top anti-corruption watchdog said on Aug 9, as Beijing widens a probe that has sent shock waves across the country’s semiconductor industry.

Du Yang, a former director at Sino IC Capital, the sole management entity of the China Integrated Circuit Industry Investment Fund, was under investigation for suspected “serious violations of discipline and laws”, a phrase that usually refers to corruption, as was Yang Zhengfan, a deputy manager at the entity, the Central Commission for Discipline Inspection (CCDI) said in a notice.