A number of fund managers and officials are under ‘investigation’ by the China government for the lack of success of its chip development programmes.
The manager involved is Chen Datong (pictured) who co-founded Omnivision in 1995 and was head of Yuanhe Puhua (Suzhou) Investment Management, also known as Hua Capital, which disbursed China government funds to companies involved in trying to build a domestic infrastructure for China’s chip effort.
The reason being reported for releasing him is said to be because China desperately needs his expertise in its latest efforts to develop its chip industry in the face of tightening sanctions from the US.
Chen had US.citizenship after working in research at the University of Illinois and at Stanford but renounced it when US sanctions made it illegal for US citizens to work for China-based tech companies.