China released Chenyue Mao, banker Wells Fargo, who has been forbidden to leave the country for several months. This allows her to return to the United States before a potential personal meeting between US President Donald Trump and Chinese President Xi Jinping.
Mao was legally obliged to get stuck in China last summer after the Chinese authorities found out that it was involved in a criminal case that was subject to investigation without providing further details of the specifics of the case. After her ban on leaving, Wells Fargo, based in San Francisco, decided to reduce other employees in a visit to China, Bloomberg said.
Who is Chenyue Mao?
Mao is located as CEO at Wells Fargo and has been in the company for more than ten years. Before joining Wells Fargo, it served in companies such as BB&T, ACE Group and AIG in financial positions.
In June this year, she was elected chairman of the FCI, a global body for factoring and funding for domestic and international trade. According to FCI, MAO leads the international factoring business Wells Fargo and advises multinational clients about cross -border strategies of working capital.
Mao was born in Shanghai, but is a US citizen who worked with Chinese companies and industrial groups and sometimes traveled to China for business, Wall Street Journal had previously informed.
Output bans in China
Chinese use of output prohibitions has become a point of dispute between Beijing and Washington. Mao’s case was not isolated because several similar incidents have been reported, including the US individual who works for the US Department of Trade.
When a ban is imposed, the affected person is blocked in leaving the country for alleged civil disputes. They usually do not know that they face such a ban until they try to leave.
The US Foreign Ministry has repeatedly warned US citizens to reconsider traveling to China on the basis of what it called “arbitrary enforcement of local laws, including relationships,” Bloomberg said.
Last weekend, China and the US started high -level interviews in Madrid, Spain on topics such as business and national security. So far, both sides have reached the framework to maintain the application of Tiktok of the Solvence Ltd., which is running in the US, and President Trump said he would talk to XI on Friday when they are scheduled to participate in the South Korea summit.
(Tagstotranslate) Wells Fargo
