China Imposes Exit Ban on Wells Fargo Banker Amid Criminal Investigation
China has confirmed the imposition of an exit ban on Wells Fargo banker Chenyue Mao, who is reportedly involved in a criminal case. This decision has triggered significant anxiety among foreign businesses operating in China, leading Wells Fargo to suspend travel to the country for its staff. The exit ban highlights growing concerns over geopolitical tensions and the risks faced by multinational banks in China. In light of this situation, there are renewed fears about conducting business in the region, as similar cases involving foreign executives continue to emerge.
upi.com, The Wall Street Journal, The Washington Post, The New York Times, Bloomberg.com, NBC News, eFinancialCareers, Axios, South China Morning Post, Firstpost