tirsdag 22. juli 2025

China bans Wells Fargo banker from leaving the country

An Atlanta-based banker working for Wells Fargo has been prevented from leaving China, the latest incident that threatens to amplify concerns among Western executives about the potential consequences of visiting the world’s second-biggest economy.

Chinese authorities said Monday the exit ban placed on Wells Fargo executive Chenyue Mao is part of a criminal investigation. “Ms. Mao Chenyue is involved in a criminal case being handled by Chinese authorities, who have lawfully imposed exit restrictions on her,” Guo Jiakun, a spokesperson for the Chinese Ministry of Foreign Affairs, said Monday following a regular press conference.

It’s not clear the target of the criminal case, nor how Mao is believed to be linked to it.

“According to Chinese law, the case is under investigation, and Ms. Mao is temporarily unable to leave the country and is obligated to cooperate with the investigation,” the spokesperson for China’s Ministry of Foreign Affairs said. “During the investigation, the authorities will ensure that her legal rights are protected.”