Overview

• Chenyue Mao, who leads Wells Fargo’s international factoring business, remains barred from leaving China under an exit ban imposed after her recent arrival for a work trip.
• On July 17, Wells Fargo suspended all employee travel to China and is reviewing its policies for staff visits to the country.
• The U.S. embassy in Beijing has formally urged Chinese authorities to lift the exit ban and allow affected American citizens to return home.
• Industry groups warn that the case heightens fears over arbitrary exit restrictions and the safety of foreign executives doing business in China.
• Exit bans have become a common tool for Chinese authorities to exert leverage in civil and political disputes, prompting multinationals to bolster legal and travel safeguards.