Wells Fargo has suspended all employee travel to China after Chenyue Mao, a Shanghai-born managing director based in Atlanta who works in trade financing, was blocked from leaving China by Chinese authorities. The Chinese Foreign Ministry confirmed that Mao, a U.S. citizen and senior Wells Fargo executive, is involved in an ongoing criminal investigation and is required to cooperate with the probe. This incident has heightened concerns among multinational companies about the risks of operating in China. Separately, a U.S. citizen employed by the U.S. Patent and Trademark Office, who traveled to China in a personal capacity, has also been barred from leaving the country. The U.S. State Department has confirmed this exit ban and stated it is engaged with Chinese officials to resolve the situation. U.S. Commerce Secretary Howard Lutnick condemned China's action as "outrageous behavior" and indicated that the Trump administration is working to address the matter. China’s Foreign Ministry emphasized that it handles border entry and exit matters according to law and reiterated its commitment to protecting the legitimate interests of foreign nationals and encouraging foreign investment, despite the ongoing diplomatic tensions. The cases have revived fears of potential entanglements for foreign employees in China amid a backdrop of diplomatic negotiations between China and the U.S.
➡️🇨🇳🚫 "Fue sometido a una prohibición de salida", China "secuestró" a un empleado del Departamento de Comercio de Trump? Más información: https://t.co/WfgqAj455K 📸📰: Bloomberg https://t.co/ziNZ264ZRY
US Commerce Secretary Howard Lutnick condemned China’s move to prevent a Commerce Department employee from exiting the country as “outrageous behavior,” and said the Trump administration is working to resolve the situation https://t.co/xdYvlhnhj2 https://t.co/71Rozbbjxh
“It is outrageous behavior. It’s just outrageous behavior,” Commerce Secretary Howard Lutnick tells me about China’s move to prevent a Commerce Department employee from exiting the country. https://t.co/szjBkeXqvM