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 following her recent visit. Chinese authorities imposed an exit ban on Mao, citing her involvement in an ongoing criminal case requiring her cooperation with the investigation. Mao is a U.S. citizen and has served at Wells Fargo for over 13 years. 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 confirmed it is closely monitoring the situation and engaging with Chinese officials to resolve it. Chinese officials have emphasized that China upholds the rule of law for both Chinese and foreign nationals and continues to welcome foreign investment. China's Commerce Minister Wang Wentao reiterated the importance of stable and mutually beneficial China-U.S. economic and trade relations, emphasizing dialogue and consultation as key to resolving differences. The developments underscore ongoing tensions and complexities in China-U.S. relations amid efforts to maintain constructive economic ties.
China’s Minister of Commerce Wang Wentao met with a delegation led by Rajesh Subramaniam, board chair of the US-China Business Council (USCBC), in Beijing on Wednesday. Wang said that under the guidance of the two heads of state, China and the US have reached Geneva consensus and https://t.co/4kiPNSKeSA
🇨🇳🇺🇸CHINA COMMERCE MINISTER MET WITH US BUSINESS DELEGATION - MINSITRY CHINA WELCOMES U.S. BUSINESS TO INVEST IN CHINA CHINA, U.S. STILL IMPORTANT TRADE PARTNERS 'DECOUPLING' WILL NOT WORK SOURCE: https://t.co/DRucgZ4VBi https://t.co/YyZqe3fuHO
China Commerce Minister States that Equal Footing Dialogue and Consultation Are Essential to Resolve Differences