A Wells Fargo executive banned from leaving China last week is “involved in a criminal case,” China’s Foreign Ministry said on Monday after the exit ban raised fears about doing business in the country.
On July 17, Wells Fargo said it was “tracking this situation” and trying to secure the return of its employee to the United States after media reports said Mao Chenyue, an Atlanta-based managing director at the bank, was prevented from leaving China, leading to the bank’s suspension of travel to China.
Speaking from Beijing at a daily press conference, Chinese Foreign Ministry Guo Jia kun said Mao “is involved in a criminal case currently being handled by Chinese law-enforcement authorities and is subjected to exit restrictions in accordance with the law.”…