A Wells Fargo executive has been barred from leaving China as part of a criminal investigation, raising concerns among Western companies about visiting the world’s second-largest economy. Chenyue Mao, a Shanghai-born banker based in Atlanta, was recently elected chairwoman of FCI, a global network of companies.
According to Chinese authorities, Mao is involved in a criminal case under investigation, and her exit restrictions are part of the ongoing probe. The exact nature of the case remains unclear. Wells Fargo has suspended all travel to China following news of Mao’s ban and has assured that it will work to facilitate her return to the US as soon as possible.
The incident highlights concerns about the risks of traveling to China, where Western executives may be subject to arbitrary enforcement of local laws. The US State Department currently has a “level 2” travel advisory for China, warning Americans to exercise increased caution when traveling to Mainland China due to exit bans.
Industry experts say that Western companies should carefully vet their employees for characteristics that pose risks during travel to China and weigh the benefits against potential risks of an exit ban. The US-China Business Council president notes that lack of transparency from Chinese authorities could have a chilling effect on executive travel to China.
China has reaffirmed its commitment to welcoming foreign visitors and businesses, while upholding its laws. However, the case underscores the complexities and uncertainties faced by Western companies operating in China.
Source: https://edition.cnn.com/2025/07/21/business/china-wells-fargo-exit-ban