China’s state-run chip industry investment fund, a central plank in Beijing’s efforts to achieve “semiconductor independence”, has become engulfed in anti-corruption probes, with a number of its executives under investigation, according to official announcements and local media reports. While authorities have released few details, the scope of the probe – which involves at least three senior executives from the fund – shows that it could be another scandal as big as the Hanxin chip case in 2006 when the country’s first home-grown computer chip was exposed as a fake. China’s Central Commission for Discipline Inspection, the country’s top disciplinary watchdog,...