A leading multinational corporation suspended all travel to China on Thursday following allegations that one of its employees was detained against their will while attempting to leave the country.
Wells Fargo halted all travel to China after an employee, Chenyue Mao, was reportedly prevented from leaving the country, according to Reuters. The banking giant is investigating the situation while assuring that efforts are underway to bring Mao back to the United States as soon as possible.
Mao, a seasoned banker and managing director at Wells Fargo, was allegedly detained by Chinese authorities during a recent trip. The Wall Street Journal cited sources familiar with the incident, indicating that Mao, who has worked at Wells Fargo for over a decade, was placed under an exit ban while in China. Wells Fargo said they are working through the proper channels to resolve the matter.
“We are closely tracking this situation and working through the appropriate channels so our employee can return to the United States as soon as possible,” Wells Fargo told Reuters.
MIAMI, FLORIDA – JULY 15: A Wells Fargo ATM is seen as the company’s quarterly earnings beat expectations on July 15, 2025 in Miami, Florida. (Photo by Joe Raedle/Getty Images)
Mao, a U.S. citizen born in Shanghai and currently based in Atlanta, played a key role in Wells Fargo’s international factoring business. Mao’s interactions with Chinese firms have included trade financing and cross-border capital strategies. Despite this, the reason for Mao’s detention remains unclear, as no formal explanation from Chinese authorities has been provided. (RELATED: EXCLUSIVE: Pentagon, Energy Dept. Nuclear Research Projects Tapped Sanctioned Chinese Communist Party Supercomputers)
The U.S. government has refrained from commenting on the situation, citing privacy issues. However, this incident has fueled broader concerns among multinational corporations about the safety of their employees in China.
Beijing has imposed travel restrictions on both Chinese and foreign nationals. Most exit bans target individuals involved in civil litigations, such as business disputes, rather than those accused of crimes. In some cases, authorities use the bans to aid criminal investigations, intimidate dissidents, or gain leverage in disputes with foreign companies and governments. These restrictions can last for months or even years as the investigations behind them continue.
Wells Fargo did not immediately respond to the Daily Caller News Foundation’s request for comment.
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