Head of China’s Biggest Chip Investment Fund Under Probe

The head of China’s biggest semiconductor investment fund is under investigation in the latest of a series of graft scandals rattling the state-backed fund.

Ding Wenwu, president of China Integrated Circuit Industry Investment Fund, has been probed by authorities and remained out of contact, several people with knowledge of the matter told Caixin. The fund, known as the “Big Fund,” is a key part of China’s drive to develop its homegrown integrated circuit industry to reduce reliance on imported technology.