A banker from Atlanta working for Wells Fargo has found herself unable to leave China, raising alarms among Western business executives about the risks of visiting the nation. The exit ban on Wells Fargo Executive Cheney Mao was revealed to be linked to a criminal investigation, according to statements made by Guo Zi-Kung, a spokesperson for China’s Ministry of Foreign Affairs. The specifics of the case—including who is being targeted and Mao’s exact connection—remain unclear. Guo noted that during the investigation, authorities will ensure Mao’s legal rights are upheld.
Mao has been with Wells Fargo since 2012 and, originally from Shanghai, she now leads the bank’s international factoring division, giving advice to multinational companies about global capital strategies. Recently, she became chairman of the Factors Chain International. In a statement, Wells Fargo expressed that they are closely monitoring the situation and are doing their best to facilitate employees’ timely return to the U.S. However, they did not provide further details on this specific situation.
An automated response from Mao’s email suggests that she is currently overseas, indicating that she may be slow to respond due to time zone differences. Interestingly, this news comes at a time when another individual, a Chinese-American working in the Commerce Department, was similarly barred from leaving China after an undisclosed visa application issue related to his work for the U.S. government. The Commerce Department directed inquiries to the State Department, which didn’t respond with any comments regarding either the Commerce employee or Mao’s case.
Presently, the State Department has a “Level 2” travel advisory for China, suggesting Americans exercise caution while traveling there, particularly in light of potential arbitrary enforcement actions. Concerns about visiting China continue to mount among corporate leaders, with Sam Stein, who heads the U.S.-China Business Council, expressing that such developments only add to the anxiety surrounding business travel.
Stein, a former U.S. diplomat in China, noted that many Western companies remain unaware of the reasons behind these exit bans, saying there’s an urgent need for China to clarify its stance to avoid further deterring business travelers. Dale Buckner, CEO of Global Guardian, advised companies to thoroughly evaluate employee backgrounds, especially for those with government ties or dual citizenship, stating these individuals should avoid travel to China and its territories. Buckner also suggested that companies should weigh the potential for profit against the risks associated with travel.
In response, Guo reiterated that all individuals, both Chinese citizens and foreigners, are expected to abide by Chinese laws. He emphasized that while this is an individual legal matter, China continues to welcome global visitors for business, provided they respect local laws and their rights are protected.
