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Semiconductors

China launches graft probe into another chip 'Big Fund' exec

Widening crackdown reaches nonexecutive director at foundry SMIC

China has been cracking down on alleged corruption in its semiconductor industry.   © Reuters

BEIJING -- Chinese authorities have announced an investigation into another executive connected to the country's largest semiconductor investment fund, further expanding a sweeping campaign against corruption in the industry.

Sino IC Capital Vice President Ren Kai is under investigation for serious legal violations, authorities said. The company, in which the state-owned China Development Bank holds a 45% stake, manages the China Integrated Circuit Industry Investment Fund, also known as the "Big Fund."

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