Wells Fargo suspends travel to China after banker was refused exit

Wells Fargo (NYSE:WFC) suspended travel to China after one of its bankers, who specializes in trade financing, was banned from leaving the country in recent weeks, according to media reports.

The Wall Street Journal reported on Thursday that Chenyue Mao, a Shangai-born and Atlanta-based managing director at Wells Fargo (NYSE:WFC), was banned from leaving the country after she traveled there in recent weeks, according to people familiar with the matter.

The WSJ reporters couldn’t determine the reason for her travel to China.

In a statement to WSJ, the bank said it’s “closely tracking this situation, and working through the appropriate channels, so our employee can return to the United States as soon as possible.”

China has imposed such travel restrictions on both Chinese and foreign nationals. Most of the exit bans aren’t imposed on people accused of crimes. The majority of people subject to the bans are involved in civil litigations, such as business disputes, the WSJ said.

Western officials and human rights groups said China has increased the use of exit bans. Sometimes the people involved are being investigated or asked to help with government investigations.

The article also said that exit bans have been used to intimidate dissidents, facilitate criminal probes, or give China leverage in disputes with governments or foreign companies. The bans can last for years if investigations drag on.

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