A senior Atlanta-based banker for Wells Fargo, Chenyue Mao, has been barred from leaving China, with Chinese authorities stating she is “involved in a criminal case.” The unexpected exit ban, confirmed today by China’s Ministry of Foreign Affairs, has sent a fresh wave of alarm through the international business community, reigniting concerns about the arbitrary application of Chinese law and the risks for foreign executives operating in the country.
Mao, a managing director specializing in international factoring business and advising multinational companies on cross-border capital strategies, had entered China in recent weeks. However, upon attempting to depart, she discovered she was subject to an exit ban, preventing her return to the United States. Wells Fargo has since confirmed it has suspended all corporate travel to China as a direct result of this incident.
“Ms. Mao Chenyue is involved in a criminal case being handled by Chinese authorities, who have lawfully imposed exit restrictions on her,” said Guo Jiakun, a spokesperson for the Chinese Ministry of Foreign Affairs, during a regular press briefing on Monday. Guo added that “according to Chinese law, the case is under investigation, and Ms. Mao is temporarily unable to leave the country and is obligated to cooperate with the investigation.”
Crucially, Chinese authorities have provided no details about the nature of the “criminal case” or how Mao is believed to be linked to it. This lack of transparency is a recurring point of contention for foreign businesses and governments, which frequently criticize China’s use of exit bans without clear legal processes or public disclosure.
Wells Fargo, in a statement, said it is “closely tracking this situation and working through the appropriate channels so our employee can return to the United States as soon as possible.” The bank has declined to comment further on the specifics of the incident. Mao, a U.S. citizen born in Shanghai, has been with Wells Fargo for 12 years and was recently elected chairwoman of FCI, a global organization for factoring and financing.
This incident is the latest in a series of cases where foreign executives and individuals have been prevented from leaving China under opaque circumstances. Just last week, reports emerged that a Chinese American man working for the U.S. Commerce Department’s Patent and Trademark Office has also been blocked from leaving China for several months, reportedly for failing to disclose his government employment on his visa application. In 2023, a senior executive at U.S. risk advisory firm Kroll was similarly prohibited from departing.
The U.S. State Department currently maintains a “Level 2: Exercise Increased Caution” travel advisory for China, explicitly warning about “arbitrary enforcement of local laws, including in relation to exit bans.” These bans can be imposed on foreign nationals for a variety of reasons, including involvement in civil disputes, criminal investigations, or even to compel individuals to participate in government investigations or pressure family members. Often, individuals only become aware of the ban when they attempt to leave the country.
“This has everyone jittery again, nervous about traveling,” Sam Stein, president of the US-China Business Council, told CNN. “This could have a chilling effect on executive travel to China — unless China can be more transparent.”
While the Chinese Foreign Ministry spokesperson Guo Jiakun stressed that both Chinese citizens and foreigners “must abide by” Chinese law, and that this was an “individual judicial case,” the episode inevitably raises the level of risk perception for multinational corporations considering or continuing operations in China. As global tensions persist, the detention of a high-profile banker like Chenyue Mao serves as a stark reminder of the unpredictable legal landscape for foreign nationals within China’s borders.