Former inspector at the Ministry of Industry and Information Technology Zhang Xin has replaced Ding Wenwu as director and general manager of China’s semiconductor “Big Fund,” according to Chinese media outlet Caixin. The move comes after Ding was placed under investigation by China’s Central Commission for Discipline Inspection, the country’s corruption watchdog, in July 2022, which precipitated a further six senior figures involved with the fund being investigated. Officially known as the National Integrated Circuit Industry Investment Fund, China’s so-called Big Fund was formed in 2014 with RMB 98.7 billion ($14.2 billion) in registered assets. Its first round of investment, which closed in 2018, totaled RMB 138.7 billion and included major industry players such as SMIC, YMTC, and UNISOC among its recipients, according to a previous report from Eastmoney Securities. [Caixin, in Chinese]