Charlotte-based Wells Fargo has just suspended all employee travel to China after one of its senior executives was barred from leaving China due to an alleged ‘criminal investigation’.
Chenyue Mao was blocked from departing China last week. Officials from China’s Foreign Ministry confirmed Mao is “required to assist in a criminal probe,” though the case’s details remain undisclosed.
#FMsays Foreign Ministry spokesman Guo Jiakun confirmed on Monday that Mao Chenyue, a United States citizen and also an executive at US bank Wells Fargo, has been barred from leaving China due to her involvement in an ongoing criminal investigation. Guo emphasized that it is an… pic.twitter.com/GgyxaJlR88
— China Daily (@ChinaDaily) July 21, 2025
Mao, who works in Wells Fargo’s international factoring division, is the latest foreign executive to face an exit ban in China. Her detention comes just weeks after she was elected chair of the global trade group Factors Chain International during a conference in Rio de Janeiro, according to the Wall Street Journal.
The bank is quietly seeking more information through diplomatic and legal channels while avoiding public escalation, according to sources familiar with the matter.
China has increasingly used exit bans on both citizens and foreign nationals during criminal or regulatory investigations. Experts say the move could deter future corporate travel to mainland China, especially among Chinese-born executives with foreign passports.
Mao has worked for Wells Fargo for over a decade. As of now, she remains in China while the investigation continues.
