Why can't this Wells Fargo banker leave China? The Chenyue Mao case everyone's talking about
Chenyue Mao
, has become the unexpected face of a growing anxiety among global businesses: what happens when one of your own can't leave China?
Why Was Mao Blocked from Leaving China?
Mao, a US citizen born in Shanghai and currently based in Atlanta, entered China in recent weeks on a business trip, the exact details of when she entered China are not known, as per a Reuters report. But when she attempted to leave, she discovered she couldn't as Chinese authorities reportedly placed an exit ban on her, preventing her from returning to the US, according to the report. This incident led Wells Fargo to immediately suspend all corporate travel to China, as reported by Reuters.
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Wells Fargo told Reuters, "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," as quoted by Reuters.
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Veteran Banker with Deep Ties to Global Trade Finance
Mao has worked at Wells Fargo for over a decade and leads its international factoring business, helping companies manage cross-border working capital, as per the report. Factoring is a financing method where companies sell their receivables to third parties, known as factors, like a bank, in exchange for immediate cash, and the factor profits by purchasing the receivables at a discount and collecting the full amount later, as explained by Reuters in its report. In June 2025, she was elected chairwoman of FCI, formerly named Factors Chain International, a global industry body for receivables finance, as reported by Reuters.
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It's not clear what prompted Chinese authorities to impose the travel restriction, according to the report. Mao has previously worked and interacted with Chinese companies and industry groups on trade financing and international factoring matters, while she also sometimes travels to China for business, according to the Reuters report.
Will It Affect US-China Relations?
The ban comes amid the tense US-China relations due to increasing rivalries in strategic, economic, and geopolitical issues, as per the report. While China has increasingly used exit bans on both Chinese and foreign nationals, many times in connection with civil disputes, regulatory investigations or criminal probes, as reported by Reuters. Just like Mao, most of the affected individuals are unaware of the restrictions until they plan to leave the country, as per the report.
A senior Trump administration official told Reuters, "The Chinese government has, for many years, imposed exit bans on U.S. citizens and other foreign nationals in China, often without a clear and transparent judicial process for resolution," as quoted in the report.
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What Does This Mean for Other Global Companies?
Meanwhile, her exit ban could worsen concerns among multinational companies about the risks of doing business in China because of employee safety and freedom of movement, according to the report. The incident might also lead to a ban on corporate travel to the country and complicate relations between the world's two biggest economies, according to the Reuters report.
FAQs
Who is Chenyue Mao?
She's a US citizen and managing director at Wells Fargo, where she leads the bank's international factoring business.
Why can't Chenyue Mao leave China?
Chinese authorities reportedly placed an exit ban on her, though the exact reason hasn't been disclosed, as per the Reuters report.
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