Summary:
- China confirmed that Chenyue Mao, a U.S. citizen and Wells Fargo executive, is under an exit ban due to a criminal investigation.
- Mao is suspected of a crime and must remain in China to cooperate with law enforcement; authorities claim her rights are “fully guaranteed.”
- Wells Fargo has suspended all work-related travel to China for its employees and is working to ensure Mao’s return.
- Mao, born in Shanghai and based in Atlanta, is managing director for Wells Fargo’s international factoring business and recently named chair of FCI.
- The case highlights concerns over China’s use of “exit bans” and risks for international firms operating within the country.
- No timeline has been provided for Mao’s potential release from China, with the investigation ongoing.
China has officially confirmed that Chenyue Mao, a U.S. citizen and senior executive at Wells Fargo, is currently under an exit ban while involved in a criminal investigation in the country. According to a spokesperson for the Chinese Foreign Ministry, Mao is “suspected of committing a crime” and is required to remain in China to cooperate with local law enforcement. The Ministry emphasized that Mao’s rights are being “fully guaranteed in accordance with the law.”
The continued restriction on her departure comes amid growing attention to China‘s legal tools for retaining foreign nationals within its borders during investigations. While the specific nature of the allegations has not been made public, the case has already prompted a notable response from her employer, Wells Fargo.
“We are aware of the situation and are working through the appropriate channels to support our employee and secure her return,” a Wells Fargo representative said. The bank also confirmed that it has suspended all work-related travel to China for its employees as a precautionary measure.
Chenyue Mao, born in Shanghai and now based in Atlanta, serves as managing director for Wells Fargo’s international factoring business, a niche financial service that facilitates international trade. Just weeks prior to the travel restriction, she had been named chair of FCI, a global network that connects factoring companies and trade finance institutions worldwide.
While Wells Fargo maintains only a minimal presence in the Chinese market—operating two branches, in Shanghai and Beijing—the situation has sparked broader conversations about operational risks for multinational firms in the region. Beijing has increasingly relied on “exit bans” in cases ranging from corporate disputes to criminal investigations, a practice that has drawn scrutiny from foreign governments and business interests alike.
When questioned about the broader implications of the case, Foreign Ministry spokesperson Guo Jiakun reiterated that “China is a country governed by rule of law” and added that individuals on Chinese soil—local or foreign—must “strictly abide by Chinese laws and regulations.”
As of now, there is no official indication of when Mao might be permitted to leave the country. The case remains under investigation.
Background:
Here is how this event developed over time:
- July 2023: Chenyue Mao, a U.S. citizen and managing director at Wells Fargo, traveled to China, where she later became subject to an exit ban by Chinese authorities.
- July 20, 2025: Chinese Foreign Ministry confirmed that Mao is involved in a criminal investigation and must cooperate with local authorities.
- July 20, 2025: Wells Fargo suspended all staff travel to China in response to the incident and began working to secure Mao’s return.
- July 20, 2025: Details revealed that Mao, based in Atlanta and born in Shanghai, leads Wells Fargo’s international factoring business and was recently elected chair of FCI, a global trade finance organization.