China’s Scandal-Plagued Semiconductor ‘Big Fund’ Gets New Chief

An IT ministry official has been appointed head of China’s biggest state-backed semiconductor investment fund almost nine months after the previous chief was placed under investigation amid a sector-wide corruption probe.

Zhang Xin, who served as a senior inspector at the planning department of the Ministry of Industry and Information Technology (MIIT), has replaced Ding Wenwu as president of the scandal-rocked National Integrated Circuit Industry Investment Fund Co., known as the “Big Fund,” several industry sources familiar with the matter told Caixin.