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Wells Fargo Executive Barred From Leaving China Amid Criminal Probe

Published: Jul. 22, 2025 2:19 a.m. GMT+8

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Foreign Ministry Spokesperson Guo Jiakun

China’s Foreign Ministry stated on Monday that a senior executive at Wells Fargo & Co. has been barred from leaving the country due to involvement in an active criminal investigation.

Chenyue Mao, a managing director at the U.S. bank, was prevented from leaving China on July 17, according to foreign media reports.

Speaking at a press briefing, Foreign Ministry Spokesperson Guo Jiakun said Mao “is implicated in a criminal case being handled by the Chinese side and has been legally barred from leaving the country by Chinese law enforcement authorities.”

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Wells Fargo managing director Chenyue Mao has been barred from leaving China due to involvement in a criminal investigation.
Chinese authorities state Mao, a U.S. citizen, is cooperating with the case and her legal rights will be protected.
The incident raises concerns among foreign investors, but China emphasizes it remains open to foreign businesses.

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Who’s Who

Wells Fargo & Co.: Wells Fargo & Co. is a U.S. bank that had one of its managing directors, Chenyue Mao, barred from exiting China due to a criminal investigation. Mao, a U.S. citizen, leads the bank's international factoring division. This incident highlights concerns among foreign investors about regulatory risks in China.

American International Group Inc.: Chenyue Mao, a Wells Fargo & Co. managing director currently barred from leaving China due to a criminal investigation, previously held senior positions at American International Group Inc.

Chubb Ltd.: Chubb Ltd. is mentioned as a previous employer of Chenyue Mao, a Wells Fargo executive. Mao worked in senior positions at Chubb Ltd. before joining Wells Fargo in 2012.

Truist Financial Corp.: Chenyue Mao, a Wells Fargo managing director barred from leaving China, previously held senior positions at BB&T, now known as Truist Financial Corp.

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What Happened When

July 17, 2025：: Chenyue Mao, a managing director at Wells Fargo & Co., was prevented from leaving China according to foreign media reports.

July 21, 2025：: China’s Foreign Ministry stated that Chenyue Mao has been barred from leaving the country due to involvement in an active criminal investigation.

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