China watchdog investigates three more execs linked to state-backed chip fund

China watchdog investigates three more execs linked to state-backed chip fund

Photo by Adi Goldstein on Unsplash

China’s corruption watchdog said on Tuesday regulators were investigating three former and current executives linked to a firm that manages the country’s largest state-backed chip investment fund, widening a probe that has rattled the sector.

Du Yang, a former director of investment firm Sino IC Capital and Yang Zhengfan, a current deputy manager, are suspected of committing serious violations of discipline and law and are being probed by teams from the Commission for Discipline Inspection (CCDI) and Ministry of Industry and Information Technology, the CCDI said in a statement.

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