Latest news with #exit restrictions
South China Morning Post
a day ago
- Business
- South China Morning Post
China says US Wells Fargo executive is banned from leaving country due to ‘criminal case'
China has confirmed that it barred a senior Wells Fargo executive from leaving the country, saying it banned her exit because of a 'criminal case' investigation. Last week, reports surfaced that Chenyue Mao , an Atlanta-based managing director at the American banking giant and a United States citizen, had been stopped from leaving China. In response, Wells Fargo has suspended all business travel to China. 'Ms Mao Chenyue is involved in a criminal case currently being handled by Chinese law enforcement authorities and is subject to the exit restrictions in accordance with the law,' Chinese foreign ministry spokesman Guo Jiakun told a press conference on Monday. He said the case was still under investigation and that Mao 'cannot leave the country for the time being'. 02:39 US-China trade remains 'critical', despite fraying relations and trade wars US-China trade remains 'critical', despite fraying relations and trade wars Mao also 'has the obligation to cooperate with the investigation pursuant to Chinese laws,' Guo added, but he did not elaborate on the details of the case in which she was alleged to be involved.
Bloomberg
a day ago
- Business
- Bloomberg
China Says Wells Fargo Banker ‘Involved' in Criminal Case
China said the case of a Wells Fargo & Co. banker blocked from leaving the country was related to a criminal matter, escalating an episode that already underscored multinationals' fears about the risks of operating in the nation. 'Ms. Mao Chenyue is involved in a criminal case currently being handled by Chinese law-enforcement authorities and is subject to exit restrictions in accordance with the law,' Foreign Ministry spokesman Guo Jiakun said at a regular press briefing in Beijing on Monday, adding that it was 'an individual judicial case.'
