The former head of the management company of China’s National Integrated Circuit Industry Investment Fund was placed under investigation after a string of Chinese chipmakers went broke.
According to a July 15 announcement by the Chinese Communist Party (CCP)’s Central Commission for Discipline Inspection, Lu Jun, the former deputy director of the Fund Management Department at China Development Bank (CDB), is being investigated for alleged “serious violations of discipline and law.”
Lu was born in 1968 and is a native of Jiangsu Province. He has long worked at CDB and other related enterprises, with his highest rank being at the bureau level. Lu resigned from CDB in September 2021….