China Lifts Exit Ban on US Banker
Previously, there were reports indicating that China had barred bankers from Wells Fargo & Company from leaving the country, particularly as a possible meeting between President Donald Trump and Chinese President Xi Jinping approached.
The exit ban on Mao Chenyue, a US national and prominent figure in trade financing at the bank, has recently been lifted, according to a source who wished to remain anonymous regarding personal matters. It’s still uncertain whether she has made her way back to the US.
Earlier this summer, Mao was prevented from departing China. In July, Chinese authorities mentioned they were involved in a criminal investigation but didn’t share specific details. Following her ban, Wells Fargo, based in San Francisco, moved to limit travel for other employees to China.
On Tuesday, Adam Berer, the US special envoy for hostage response, noted that the Chinese government had released several US citizens from exit bans, although he didn’t specify who they were.
“We got people who were held at home released from China,” he stated during a conversation at the New American Security Center, a think tank in the US.
He added, “It’s not acceptable to do these things anywhere. China should understand this. I think we’ve communicated that clearly, and they’ve responded positively.” Berer also remarked that negotiations go smoother when American citizens are not caught up, expressing hope that China would continue to engage constructively.
A spokesperson for the State Department reaffirmed that the primary concern is the safety and security of American citizens but did not provide additional comments beyond Berer’s statements. Neither Wells Fargo nor China’s Foreign Ministry responded immediately to inquiries for comment.
In recent days, high-level discussions between China and the US commenced in Madrid, focusing on trade and national security issues. So far, the two sides have established a framework to keep the TikTok app operational in the US, and President Trump has indicated plans to speak with Xi, who is set to attend a summit in South Korea on Friday.
China’s implementation of exit bans has been a contentious issue in US-China relations. Mao’s case is not isolated; it follows similar instances involving other Americans, including a worker from the US Department of Commerce.
The US State Department has consistently urged American travelers to reconsider their plans to visit China, citing concerns about the “arbitrary enforcement” of local laws surrounding exit bans.
Mao is relatively well-known in her field. In June, she was selected to chair FCI, an international institution focused on factoring and trade financing. She leads Wells Fargo’s international factoring sector and provides guidance to multinational clients on cross-border business strategies.
