A senior executive of Wells Fargo, a U.S. citizen, has been banned from leaving China, renewing concerns over doing business in the communist state.
Analysts said that amid continued tensions between China and the United States and the Chinese Communist Party’s (CCP) intensified internal conflicts, safety risks faced by foreign businessmen in China are rising sharply.
U.S.-based Chenyue Mao, head of Wells Fargo’s international factoring business, has been banned from leaving China after entering the country in recent weeks. Mao was born in Shanghai and now lives in Atlanta. The U.S. banking giant has reportedly suspended all travel to China after the incident….
China Bans Wells Fargo Executive From Leaving, Reviving Fears of ‘Hostage Diplomacy’
