China is investigating the head of a high-profile state-backed fund in yet another attempt to target key figures responsible for shaping its chip policy and investments, Bloomberg reports.
Ding Wenwu, general manager of the National Integrated Circuit Industry Investment Fund, is suspected of “serious disciplinary lapses and violation of the law,” the Central Commission for Discipline Inspection said in a statement on Saturday, without elaborating. The CCDI is China’s top anti-bribery authority.
Ding, 60, is currently undergoing disciplinary review by an inspection team sent by the CCDI to the Ministry of Industry and Information Technology, according to the statement.
Earlier this week, authorities said Industry and Information Technology Minister Xiao Yaqing was also under investigation. While Beijing has not linked the two cases or specified the allegations beyond legal and disciplinary violations, they follow several cases since late 2021 that have unnerved an industry given priority status by President Xi Jinping and used to long in government funding and support.
Just days before Xiao’s investigation was announced, Caixin reported that it had also launched an investigation into Zhao Weiguo, who had served as chairman of Tsinghua Unigroup before the company – once considered one of China’s national semiconductor champions – collapsed under from a mountain of debt.
I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.