Wells Fargo has suspended all employee travel to China following an incident involving Chenyue Mao, a Shanghai-born managing director based in Atlanta who works in trade financing. Mao, a U.S. citizen and senior executive at Wells Fargo, was blocked from leaving China after traveling there recently. Chinese authorities have placed an exit ban on Mao, citing her involvement in an ongoing criminal investigation and requiring her cooperation. The Chinese Foreign Ministry confirmed Mao's involvement in a criminal case but emphasized China's commitment to protecting the legitimate interests of foreign nationals. Separately, a U.S. citizen working for 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 the situation and stated it is actively engaged with Chinese officials to resolve the matter. These developments have raised concerns among multinational corporations about the risks of operating in China. In response, BlackRock has restricted the use of company technology and laptops for employees traveling to China. Meanwhile, China's Commerce Minister has acknowledged challenges in China-U.S. economic and trade relations but stressed their mutual importance and the need for dialogue and consultation to manage differences. China continues to encourage foreign investment while maintaining that it upholds the rule of law for both Chinese and foreign nationals.
#Chinese Minister of Industry and Information Technology Li Lecheng met with a delegation led by Rajesh Subramaniam, board chair of the #US-China Business Council (USCBC) in Beijing on Tuesday, encouraging more US companies to deepen their roots in China. A Chinese expert said https://t.co/AQPthHT4Tf
China Daily Editorial: In Stockholm, China welcomes deeper dialogue, but is also fully aware that the essence of the talks concerns the fundamental rules of the international economic and trade order, and thus bridging the gaps between the two countries is a long-term and complex https://t.co/qhhkVM6ZDC
China is committed to the protection of international wetlands and to fostering global partnerships through technological exchange and joint conservation efforts, a Chinese official said https://t.co/PT5fSrsRa5 https://t.co/hhn3WDimRT