told the Wall Street Journal<\/a>.<\/p>\nMao, who was born in Shanghai, was traveling there internationally on business, according to her automated email response.<\/p>\n
Chenyue Mao is a managing director at Wells Fargo. Trade Reboot<\/p>\n
Wells Fargo quickly suspended all travel to China following news of the exit ban, sources told the Journal.<\/p>\n
It could not immediately be determined when Mao was detained or why she is facing an exit ban.<\/p>\n
\u201cWe are closely tracking this situation and working through the appropriate channels so our employee can return to the United States as soon as possible,\u201d a Wells Fargo spokesperson told The Post in a statement.<\/p>\n
Mao recently attended an industry conference in Brazil late last month, according to a news release.<\/p>\n
The longtime Wells Fargo employee \u2013 who started with the company in 2012 \u2013 specializes in international factoring, a process that allows companies to sell unpaid invoices to a third party, known in this case as the factor, for immediate cash.<\/p>\n
Mao worked with Chinese companies and industry groups on international factoring matters, and sometimes traveled to China on business, according to the Journal.<\/p>\n
She was recently named chairwoman of FCI, formerly called Factors Chain International, at the group\u2019s annual meeting in Rio de Janeiro in June.<\/p>\n
Mao is facing an exit ban after entering China in recent weeks, according to a report. Facebook\/Chenyue Mao<\/p>\n
Mao posted about the new role on LinkedIn just two weeks ago and thanked colleagues for their messages of congratulations.<\/p>\n
FCI and the Chinese Embassy did not immediately respond to The Post\u2019s requests for comment.<\/p>\n
These exit bans have become increasingly common in China, where people are often blocked from leaving for civil disputes, not crimes.<\/p>\n
Beijing has invoked travel bans to use as intimidation tactics or even to create leverage over another company or foreign government. Wells Fargo, however, does not have a notable presence in China.<\/p>\n
Wells Fargo has suspended all travel to China, a source told the Wall Street Journal. REUTERS<\/p>\n
The brutal bans can last for months or even years, and people are often unaware they\u2019re facing such a ban until they try to leave.<\/p>\n
In late 2023, Charles Wang Zhonghe, an executive at Japanese-based financial services firm Nomura, was banned from leaving mainland China after a business trip. He has since returned to Hong Kong.<\/p>\n
Michael Chan, a Kroll executive who holds a Hong Kong passport, was also unable to exit the country from mainland China in 2023. <\/p>\n
He was still in China as of May.<\/p>\n
The bans have prompted some companies to cancel business trips or create new policies that discourage employees from entering the country alone.<\/p>\n","protected":false},"excerpt":{"rendered":"A Wells Fargo banker traveling on business has been blocked from leaving China after recently arriving there for…\n","protected":false},"author":3,"featured_media":70934,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[259,64,74,67,132,68,13241],"class_list":{"0":"post-70933","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-banks","9":"tag-business","10":"tag-china","11":"tag-united-states","12":"tag-unitedstates","13":"tag-us","14":"tag-wells-fargo"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114870736916645916","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/70933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=70933"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/70933\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/70934"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=70933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=70933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=70933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}