Chinese Foreign Ministry spokesperson Guo Jiakun

When asked to comment on media reports that Mao Chenyue, a Wells Fargo banker, had recently been blocked from leaving China, Chinese Foreign Ministry spokesperson Guo Jiakun stated that 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. Pursuant to Chinese laws, with the case still under investigation, Mao cannot leave the country for the time being and has an obligation to cooperate with the investigation.

"Anyone, Chinese and foreigners alike, should abide by Chinese laws in China. We will protect Ms. Mao's lawful rights and interests during the investigation in accordance with the law," Guo said. 

"Let me stress that it is an individual judicial case. China will as always welcome people from all countries to travel and do business in China and ensure their rights and interests in accordance with the law," said Guo.

According to its 2024 financial review, Wells Fargo & Company describes itself as a leading financial services provider with approximately $1.9 trillion in assets. The firm offers a broad range of banking, investment, and mortgage products, as well as consumer and commercial financing, through four key business segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management. Wells Fargo ranked No. 34 on Fortune's 2024 rankings of America's largest corporations and stood fourth in total assets and third in market value of its common stock among all US banks as of December 31, 2024.

Global Times