Another heavyweight involved in China’s chip independence drive comes under official investigation: Caixin

Ding Wenwu, the former president of China’s biggest semiconductor industry investment fund, is under disciplinary investigation by authorities, becoming the latest heavyweight player in China’s chip self-sufficiency drive to be probed, according to a report by Chinese magazine Caixin.

The 60-year-old, who has helmed the China Integrated Circuit Industry Investment Fund since its foundation in 2014 – also known as the Big Fund – was taken away by authorities for investigation, Caixin reported on Thursday. There has been no official statement by authorities about an investigation of Ding.

If the report is confirmed, Ding would follow Lu Jun, the former head of Sino IC Capital – the management entity of China’s Big Fund – who was put under investigation last week by the top anti-corruption watchdog in China. Separately, Zhao Weiguo, the former head of Tsinghua Unigroup which led the group’s aggressive leveraged purchases of semiconductor assets, has also been put under investigation by authorities, according to Caixin.

There have been no official announcements by authorities about whether the probes are related.

On Thursday, Chinese authorities announced that Xiao Yaqing, the Minister of Industry and Information Technology, a key person in charge of pushing China’s semiconductor industry development, had been put under investigation for possible violations of laws.