- Wells Fargo halts all China travel after a U.S. banker, Chenyue Mao, was barred from leaving the country.
- Mao, a U.S. citizen, was reportedly placed under an exit ban after entering China recently.
- She is a Managing Director at Wells Fargo, leads international factoring, and is based in Atlanta.
- Mao also chairs FCI, a global factoring network; she had frequently traveled to China for business.
- Wells Fargo is working through diplomatic channels to get her back to the U.S.
- The exact reason for the travel restriction is still unknown.
- China’s foreign ministry has not commented, and Mao hasn’t responded to media requests.
- The case has alarmed multinational firms, raising concerns over employee safety and freedom of movement in China.
- Exit bans in China are rising, often imposed in civil, regulatory, or criminal matters sometimes without prior notice.
- Other firms have advised employees to travel in groups or carry extra documents amid geopolitical tensions.
- Nomura faced a similar case in 2023 when a senior banker was ordered not to leave China.
- Human rights groups say China increasingly uses exit bans as pressure tools during investigations.
- Corporate leaders say confidence in safe business travel to China is shaken again.
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