US bank Wells Fargo employee blocked from leaving China: reports
Multiple media outlets reported earlier Friday that the employee involved was Chenyue Mao, an Atlanta-based managing director who was born in Shanghai.
Mao had entered the country in recent weeks but is now unable to leave, they said.
'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,' the company told AFP when asked to confirm the reports.
The company declined to give further details.
The San Francisco-based bank is now restricting its employees from visiting China following this case, reports said.
Beijing's foreign ministry spokesman Lin Jian said he was 'not familiar' with the specific case when asked about it at a news conference on Friday.
'China is a country governed by the rule of law. Whether a person is Chinese or foreign, in China both must respect China's laws,' Lin added.
Global firms have faced an increasingly difficult business environment in China in recent years, industry groups say, citing a lack of transparency on data laws and prolonged detentions of employees in the country.
A court in China sentenced a Japanese businessman from pharmaceutical company Astellas to three-and-a-half years in prison on Wednesday for spying.
Pharmaceutical giant AstraZeneca in November said that the head of its China operations Leon Wang had been detained, after reports the firm was under investigation for potentially illegal data collection and drug imports.
And in 2023 a senior executive at US risk advisory firm Kroll was prohibited from leaving China, the Wall Street Journal reported.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
RTHK
38 minutes ago
- RTHK
US-bound rare earth magnets on the rise
US-bound rare earth magnets on the rise Rare earth exports from China to the United States have rebounded after US tariffs fuelled trade tensions earlier. File photo: AFP China's exports of rare earth magnets to the United States in June soared to more than seven times their May level, marking a sharp recovery in the flow of critical minerals used in electric vehicles and wind turbines after a Sino-US trade deal. Outbound shipments to the United States from the world's largest producer of rare earth magnets surged to 353 metric tons in June, up 660 percent from May, data from the General Administration of Customs showed on Sunday. That came after pacts reached in June to resolve issues around shipments of rare earth minerals and magnets to the United States. Chipmaker Nvidia plans to resume sales of its H20 AI chips to China as part of the agreement. China, which provides more than 90 percent of the global supply of rare earth magnets, decided in early April to add several rare earth items to its export restriction list in retaliation for US tariffs. The subsequent sharp fall in shipments in April and May, due to the lengthy time required to secure export licences, had upset the global supply chain, forcing some automakers outside China to halt partial production due to a rare earths shortage. In total, China exported 3,188 tons of rare earth permanent magnets globally last month, up 157.5 percent from 1,238 tons in May, although the June volume was still 38.1 percent lower than the corresponding month in 2024. Shipments of magnets are likely to recover further in July as more exporters obtained licences in June, analysts said. During the first half of 2025, exports of rare earth magnets fell 18.9 percent on the year to 22,319 tons. (Reuters)
RTHK
a day ago
- RTHK
Yoon legal woes mount with abuse of power indictment
Yoon legal woes mount with abuse of power indictment Yoon Suk-yeol defended himself in court on Friday for more than 30 minutes. File photo: Reuters Disgraced South Korean ex-president Yoon Suk-yeol was indicted for abuse of power on Saturday over his declaration of martial law last year, as investigators widened an insurrection probe. Yoon plunged South Korea into a political crisis when he sought to subvert civilian rule on December 3, sending troops to parliament in a bid to prevent lawmakers voting down his declaration of martial law. He became the first sitting president in the country to be taken into custody when he was detained in January after resisting arrest for weeks, using his presidential security detail to thwart investigators. He was released on procedural grounds in March, even as his trial on insurrection charges continued. Last week he was detained again after an arrest warrant was issued over concerns he might destroy evidence in the case. The prosecution "indicted former president Yoon Suk-yeol on charges including abuse of power and obstruction of special official duties", prosecutor Park Ji-young said on Saturday. Park said Yoon also did not follow the required procedure to declare martial law, including holding a meeting with all cabinet members of the government. Yoon was also charged with "drafting and discarding a false document" that stated the prime minister and defence minister had endorsed martial law. Yoon has refused to attend questioning since he was detained, but appeared in court on Friday at a hearing to argue for his warrant to be cancelled. The ex-president's legal team said Yoon defended himself for over 30 minutes, and mentioned his "limited physical mobility and the challenges he was facing". The court denied the request. Yoon is being held in solitary in a cell which has a fan but no air-conditioning, as a heat wave grips South Korea. (AFP)
AllAfrica
a day ago
- AllAfrica
Signs mount Xi under pressure to cede some power
Political and economic pressures might force Chinese President and overall leader Xi Jinping to delegate some of his powers to his deputies in a highly significant move. This has prompted some observers and media outlets to speculate that Xi's grip on power may be waning. A major part of why this is happening is likely to stem from Xi's difficulties in dealing with China's economic woes, which began with a real estate crisis in 2021. For years, the Chinese Communist Party (CCP) has relied on providing economic prosperity to legitimize its rule over the country. But the continuously lackluster performance of the Chinese economy over the past four years and Trump's trade war with Beijing are making recovery a difficult task. And this is likely to be a factor that undermines Xi's rule. These rumors about Xi started just after the latest meeting, on June 30, of the Politburo (the principal policy-making body of the party), which brings China's top leaders together to make major decisions. For people who don't follow Chinese politics, the idea of Xi delegating some authority might seem nothing special. However, in understanding China, it's important to understand that Xi has massive power, and it seems the Politburo is signaling there are some changes on the horizon. Symbolism and indirect language play an important role in how the Communist Party communicates with Chinese people. The way it is done comes through slogans or key phrases, which are collectively known as 'tifa' (提法). This method of information is important since it shapes political language and debate and influences how a Chinese audience and an international audience understand what is going on. At first glance, the Politburo's call for enhancing 'policy coordination' and the 'review process' of major tasks may appear to indicate that the central government is seeking to ensure local officials follow through with Beijing's agenda. But there is probably more to the Politburo's statement than meets the eye. The statement said that specialized bodies that exist within the party's central committee, which includes the powerful commissions that Xi's loyalists now hold, should focus on 'guidance and coordination over major initiatives' and 'avoid taking over others' functions or overstepping boundaries.' For experienced China watchers, there are hints here that this powerful decision-making body is making a veiled threat against Xi for holding on to too much power. But the opaque nature of China's elite decision-making process, where a great deal of backroom politics occurs behind closed doors, means that decoding its messages isn't always easy. Because of all of this, there is increasing speculation that a power struggle is in progress. This isn't entirely surprising given that Xi's purge of many senior party officials through anti-corruption campaigns and his dominance over the highest levels of government are likely to have earned him many enemies over the years. Another sign that all isn't going well with Xi's regime is the removal of some of his allies from key positions within the government. Xi began his anti-corruption campaign in 2012 when he became China's leader. On paper, while the campaign is officially framed as a drive to clean up corruption, evidence suggests that it may have been used to remove Xi's political rivals. The problem for Xi is that the campaign is being used against his loyalists as well. In October 2023, Defense Minister Li Shangfu, who was considered a Xi ally, was sacked due to what were later confirmed in 2024 to be corruption charges. But the dismissals of Xi loyalists continued. Admiral Miao Hua, who was in charge of ideological control and personnel appointment within the armed forces and Xi's associate since his days as a party official in Fujian province, was suspended from office in November 2024. And in June 2025, he was removed after being investigated for corruption. The previous month, General He Weidong, who was vice-chairman of the powerful Central Military Commission, was also arrested for alleged corruption. Are the purges a consequence of Xi ceding ground to political rivals? This is a possibility. But even if it weren't and the purges are part of a concerted effort to stamp out corruption, Xi's campaign will not only cast aspersions on his ability to appoint the right people into government, but also create a climate of fear among allies and potentially create further enemies. Either scenario puts Xi on the spot. But since Xi became China's head of state in 2013, he and his loyalists have taken over leadership of many key national commissions, making him the most powerful Chinese leader since the time of Chairman Mao. These commissions include the Central Financial Commission, which regulates China's financial markets, the Central Science and Technology Commission, which aims to accelerate China's technological progress, and the Central Cyberspace Affairs Commission, which regulates China's digital content. But it looks like Xi is about to delegate some of his power, and there are some other decisions that may indicate a shift. For the first time since coming into power in 2012, Xi skipped the annual summit organized by the BRICS group (named after Brazil, Russia, India, China and South Africa,) Instead, from July 5 to 7 this year, Chinese Premier Li Qiang led a delegation to Rio de Janeiro. This isn't the first time that Li has represented Xi in high-profile conferences abroad. In September 2023, Li attended the G20 summit in New Delhi, India, and has taken part in ASEAN summits. But the BRICS appearance alongside with Li's increasingly prominent role in economic policymaking may suggest that his influence is on the rise, while Xi's is declining. Watch this space. Chee Meng Tan is an assistant professor of business economics, University of Nottingham. This article is republished from The Conversation under a Creative Commons license. Read the original article.
