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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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