In a striking acknowledgment of its increasingly hardline tactics, China’s Foreign Ministry reportedly confirmed Monday that it has barred a senior American banker, Chenyue Mao, from leaving the country.
Mao, a managing director at Wells Fargo, is reportedly required to assist in a criminal investigation, though Beijing has refused to disclose any specifics about the case or her alleged role in it.
Foreign Ministry spokesman Guo Jiakun offered the first public confirmation of the exit ban, stating simply that Mao “is involved in a criminal case currently under investigation” and “can’t leave the country for the time being.” Guo insisted she “has an obligation to cooperate with the investigation,” but stopped short of explaining the nature of the probe or what Mao is accused of doing.
The move raises red flags among U.S. officials and corporate leaders alike, who have increasingly viewed China’s use of opaque legal mechanisms — including exit bans — as tools of intimidation and political leverage.
Mao, a Shanghai native based in Wells Fargo’s Atlanta office, was reportedly stopped after arriving in China on business. Her travel, according to an automated email reply, was related to international engagements. Wells Fargo, for its part, has declined to elaborate but said it is “working through the appropriate channels” to help secure her return.
The U.S. Embassy reiterated that such exit bans — imposed “without a clear and transparent judicial process” — have become a troubling norm in China. “We monitor exit ban cases that are brought to our attention and provide appropriate consular assistance,” a spokesperson said.
Mao is no minor figure in international finance. She is a well-established specialist in trade financing and international factoring and was recently elected chairwoman of FCI, a global trade-finance consortium, at its annual meeting in Rio de Janeiro.
Her involvement with numerous Chinese companies over the years adds to the uncertainty surrounding Beijing’s motives.
This is far from an isolated incident. In recent years, Chinese authorities have expanded the use of exit bans, targeting not only criminal suspects but also businesspeople entangled in civil disputes or — as human rights groups have noted — those used for leverage in geopolitical or economic conflicts.
Notably, these measures often blindside their targets. Individuals typically learn they are subject to exit restrictions only when they attempt to leave mainland China.
In late 2023, Charles Wang Zhonghe, a Nomura executive, and Michael Chan, a Kroll executive, were similarly barred from departure. Chan was still trapped in China as of May.
The consequences of these practices have been chilling. Companies have begun canceling or scaling back business travel to China, increasingly concerned about employee safety.
Some have implemented strict internal policies, including mandates that staff travel in groups and not alone.
While Chinese officials insist such bans are lawful — “Whether one is Chinese or a foreigner, in China they must abide by Chinese laws,” said Guo — critics argue the lack of transparency and the seemingly arbitrary nature of the restrictions paint a far different picture.
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