China Says Wells Fargo Banker ‘Involved' in Criminal Case
Advertisement
'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.'
'Pursuant to China's laws, with the case still under investigation, Ms. Mao cannot leave the country for the time being and has the obligation to cooperate with the investigation pursuant to Chinese laws,' Guo said. 'We will protect her lawful rights and interests through an investigation.'
Wells Fargo recently suspended travel to China after Mao, one of its top trade financing bankers, was prohibited from leaving the country. The Atlanta-based managing director born in Shanghai was banned from departing China after entering in recent weeks, Bloomberg News reported last week, citing a person with knowledge of the situation.
Advertisement
The bank has offices in Beijing and Shanghai to manage relationships with local clients in its corporate and investment banking business, as well as local branches in the two cities, according to its website.
Well Fargo didn't immediately respond to an emailed request for comment sent outside of regular business hours in the US.
China's use of exit bans has been a point of contention between Beijing and Washington. The US State Department has repeatedly advised citizens to reconsider travel to China based on what it called the 'arbitrary enforcement of local laws, including in relation to exit bans.'
Separately, reports have appeared in the Washington Post and South China Morning Post that China has stopped an American citizen who works for the US Commerce Department from leaving the country for several months — an episode that coincides with Beijing and Washington trying to arrange a leaders' summit so they can address their differences on trade.
Advertisement
The Chinese-American individual who works for the Patent and Trademark Office had traveled to meet relatives, the Washington Post reported, citing four people familiar with the matter, who asked not to be identified discussing the sensitive issue.
Guo, the Foreign Ministry spokesman, said he didn't have any information to share about the Commerce Department employee.
'China is a country upholding the rule of law,' Guo said. 'We handle relevant cases in strict accordance with the law.'
©2025 Bloomberg L.P.
This article was generated from an automated news agency feed without modifications to text.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
19 minutes ago
- Time of India
How China's BYD is operating by remote control to overcome obstacles in India
How China's BYD is operating by remote control to overcome obstacles in India Alisha Sachdev Bloomberg Jul 28, 2025, 14:04 IST IST Visa hurdles for top BYD management, investment roadblocks from the India government notwithstanding, the Chinese carmaker has proved popular with Indian drivers — sales in the first half of this year are nearly touching the total units sold in 2024 China's BYD is forging ahead with its attempts to expand in India despite roadblocks from the government that are preventing the electric vehicle maker from conducting key business dealings there. Like most Chinese companies, BYD has been unable to obtain visas for executives after a deadly clash between Indian and Chinese soldiers in 2020 sparked a major deterioration in political ties. That's seen the EV giant resort to holding board meetings and high-level business interactions in Colombo in Sri Lanka and Kathmandu in Nepal, and even as far away as Singapore, according to people familiar with the matter.
India.com
19 minutes ago
- India.com
Operation Mahadev: 3 terrorists killed in encounter near Srinagar's Dachigam, may be connected to Pahalgam attack
An encounter broke out between terrorists and security forces in the Harwan area of the city near the Dachigam National Park on Monday, officials said. 'OP MAHADEV – Contact established in General Area Lidwas. Operation in progress,' Srinagar-based Chinar Corps of the Army posted on its X handle. OP MAHADEV – Update Three terrorist have been neutralised in an intense firefight. Operation Continues.#Kashmir@adgpi@NorthernComd_IA — Chinar Corps🍁 – Indian Army (@ChinarcorpsIA) July 28, 2025 The security forces, acting on an intelligence input, launched an anti-militancy operation in the Mulnar area of Harwan, they said. Two rounds of gunshots were heard from a distance as security personnel were carrying out searches, officials said. Reinforcements were rushed to the area, and the combing operations intensified to track down the terrorists, they said. (With Inputs From PTI)
Mint
19 minutes ago
- Mint
‘Operation Mahadev': Three terrorists killed in encounter with security forces in J-K's Srinagar
Three terrorists were killed in an intense firefight with security forces in the Harwan area near Dachigam National Park of Srinagar in Jammu and Kashmir, the Indian Army said on Monday. The anti-terror Operation Mahadev took place in the general area of Lidwas, Chinar Corps of Indian Army said. 'OP MAHADEV - Contact established in General Area Lidwas. Operation in progress,' Srinagar-based Chinar Corps of the Army posted on its X handle. The security forces, acting on an intelligence input, launched an anti-militancy operation in the Mulnar area of Harwan, they said. Two rounds of gunshots were heard from a distance as security personnel were carrying out searches, officials said, as reported by PTI. Reinforcements were rushed to the area, and the combing operations intensified to track down the terrorists, they said. According to preliminary information, two to three terrorists are believed to be trapped in the cordoned area. (This is a developing story)
