A Wells Fargo managing director, Chenyue Mao, is reportedly banned from leaving China due to a criminal investigation. The Chinese Ministry of Foreign Affairs confirmed the exit ban, stating that Mao’s cooperation is required.
The Situation
The spokesperson, Guo Jiakun, explained that the investigation is ongoing and Mao must remain in China to cooperate. Authorities claim her legal rights will be protected throughout the process. Wells Fargo, which has branches in Shanghai and Beijing, has suspended all employee travel to China while they work to resolve the situation. The bank stated they are actively working to get Mao back to the US.
Unclear Details and US Concerns
The exact nature of the criminal case involving Mao remains unclear. Adding to the intrigue, she recently became chair of FCI, a global business association. The US embassy in Shanghai expressed concern, noting that China has a history of imposing exit bans on US citizens without transparent judicial processes. They’ve urged Chinese authorities to allow Mao to return home.
What’s Next?
The situation highlights ongoing tensions between the US and China regarding legal processes and the treatment of foreign nationals. The outcome of the investigation and Mao’s eventual return to the US remain uncertain.