Anti-corruption watchdog probes executives linked to state-backed chip fund

China’s anti-corruption watchdog has launched an investigation into three former and current executives of investment firm Sino IC Capital Co. Ltd., which manages the assets of state-backed China Integrated Circuit Industry Investment Fund, Reuters reported. The executives have been accused of serious violation of disciplines and laws. The state-backed chip investment fund, which was established in 2014 to accelerate growth in China’s semiconductor industry, is being investigated for fraud and corruption.