(Reuters) -A U.S.-based Wells Fargo banker who works in trade financing has been blocked from leaving China after traveling there recently, the Wall Street Journal reported on Thursday.
Chenyue Mao was subjected to an exit ban after she entered China sometime in recent weeks, the report said, citing people familiar with the matter.
The U.S. banking giant has suspended all travel to China following Mao’s exit ban, according to the report. Reuters was unable to independently verify the suspension.
“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 said in a statement emailed to Reuters.
The ban could worsen concerns among multinational companies about the risks of doing business in China, particularly around employee safety and freedom of movement. The incident could also chill corporate travel to the country and complicate relations between the world’s two biggest economies.
Broader U.S.-China relations also remain tense, shaped by deepening strategic, economic, and geopolitical rivalries.
Mao was born in Shanghai and is based in Atlanta, according to a June 2025 release from FCI, where she serves as chairwoman. Before her election as FCI chair in June, Mao served as vice chair of the body.
She has been a banker at Wells Fargo for over a decade, according to her LinkedIn profile. She currently serves as a managing director at the lender and spearheads its international factoring business, as well as advising multinational clients on cross-border working-capital strategies.
Factoring is a financing method where companies sell their receivables to third parties, such as banks, in exchange for immediate cash. The third party, known as the factor, profits by purchasing the receivables at a discount and collecting the full amount later.
The Wall Street Journal reported that it could not be determined precisely when Mao entered China, or what prompted the travel restriction.
Beijing has increasingly used exit bans on both Chinese and foreign nationals, often in connection with civil disputes, regulatory investigations or criminal probes.
Many affected individuals are unaware of the restrictions until they attempt to leave the country.
Mao did not immediately respond to a Reuters request for comment on LinkedIn. The White House and China’s foreign ministry did not immediately respond to requests for comment.
Wells Fargo, which has a limited presence in China, did not immediately respond to a Reuters request for comment about Mao’s citizenship status.
(Reporting by Manya Saini in Bengaluru; Editing by Pooja Desai)
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