19.8 C
Athens
Σάββατο, 23 Νοεμβρίου, 2024

Another executive of Chinese semiconductor investment fund being probed for corruption

Περισσότερα Νέα

- Advertisement -

Another senior executive of a general partner of the Chinese top semiconductor investment fund was placed under investigation on suspicion of corruption, joining a list of executives brought down by an unfolding anti-corruption crackdown that is sweeping the country’s semiconductor industry.

Ren Kai, vice president of Sino IC Capital Ltd., was detained by Chinese authorities on Thursday morning, Nikkei Asia citing Chinese media Caixin sources reported.

Sino IC is the sole manager of China Integrated Circuit Industry Investment Fund, known as the “Big Fund,” a state-backed semiconductor investment fund and a key player in the country’s quest for self-sufficiency in chipmaking.

Nikkei Asia reported that since July, seven current and former executives of the fund and its management firm have been put under graft probes, along with several others at companies the fund invested in.

Fifty-year-old Ren worked for 19 years at China Development Bank and was in charge of reviewing loans and investments in equipment and electronics projects.

- Advertisement -

During his tenure at the bank, he led a team that reviewed and granted more than 30 billion yuan ($4.3 billion) of loans to the integrated circuit industry, Nikkie Asia reported.

In July, Chinese authorities opened an investigation against a senior government minister responsible for handling the world’s second-largest economy’s semiconductor and digital technology sectors.

China’s anti-graft investigators started a probe against Xiao Yaqing after he was suspected of “violating” discipline and law.

“Xiao Yaqing, China’s minister of industry and information technology, has been put under investigation for suspected violations of party discipline and laws,” Xinhua news agency had reported citing an official statement read.

According to the statement, Xiao is being probed by the Communist Party of China Central Commission for Discipline Inspection and the National Supervisory Commission.

- Advertisement -

ΑΠΑΝΤΗΣΤΕ

εισάγετε το σχόλιό σας!
παρακαλώ εισάγετε το όνομά σας εδώ

The reCAPTCHA verification period has expired. Please reload the page.

Ροή ειδήσεων

ΣΧΕΤΙΚΑ ΑΡΘΡΑ

Fatwa against VPNs: A threat to digital freedom in Pakistan

In a rapidly evolving digital world, where technology is increasingly integrated into every aspect of our lives, the internet is often viewed as a...

Strikes and protests increase in China due to unpaid wages and factory closures

Strikes and protests by labourers and industry workers have seen arise in China where such incidences are strictly forbidden. The majority of the protests...

Pakistan: HRCP demands reversal of Anti-Terrorism Act amendment proposal, warns of threats to democracy

The Human Rights Commission of Pakistan (HRCP) concluded its 38th Annual General Meeting with a stern call for urgent action to address Pakistan’s worsening...

China’s space ambitions face ‘huge test’ from Musk presence in Trump White House

Tech mogul Elon Musk's potential weight in the second Donald Trump administration is likely to accelerate the US space programme and pose a "huge test" to China's extraterrestrial...

ΔΗΜΟΦΙΛΗ ΑΡΘΡΑ

Φέτβα κατά των VPN: Μια απειλή για την ψηφιακή ελευθερία στο Πακιστάν

Σε έναν ταχέως εξελισσόμενο ψηφιακό κόσμο, όπου η τεχνολογία ενσωματώνεται ολοένα και περισσότερο σε κάθε πτυχή της ζωής μας, το Διαδίκτυο θεωρείται συχνά ως...

Fatwa against VPNs: A threat to digital freedom in Pakistan

In a rapidly evolving digital world, where technology is increasingly integrated into every aspect of our lives, the internet is often viewed as a...

Σε κίνδυνο τα ανθρώπινα δικαιώματα στο Πακιστάν

Η Επιτροπή Ανθρωπίνων Δικαιωμάτων του Πακιστάν (HRCP) ολοκλήρωσε την 38η Ετήσια Γενική Συνέλευση με μια αυστηρή έκκληση για επείγουσα δράση για την αντιμετώπιση της...

Οι απεργίες και οι διαδηλώσεις αυξάνονται στην Κίνα λόγω των απλήρωτων μισθών και του κλεισίματος των εργοστασίων

Απεργίες και διαμαρτυρίες από εργάτες και εργάτες της βιομηχανίας έχουν εμφανιστεί στην Κίνα όπου τέτοια περιστατικά απαγορεύονται αυστηρά. Η πλειονότητα των διαμαρτυριών διεξήχθη πριν...