Submitted by Liz, La Nina is his country M on M
Beijing/New York (Reuters) -The Ministry of Foreign Affairs said on Monday that Chenyue Mao, Wells Fargo banker, blocked to leave the country, participated in a criminal case and ordered cooperation in the investigation.
Mao is the latest of several foreign executives from foreign corporations that will be suspended when they tried to leave China. The ban on her withdrawal is a tense moment of US -Chinese relations, as both countries get angry about trade policy.
Chinese law enforcement agencies have restricted Mao’s withdrawal by law, ”said Ministry Jiakun regularly.
Wells Fargo refused to comment. On Friday, the bank stated that he was “working on the relevant channels” to ensure Mao’s return to the United States as soon as possible.
US Bank has suspended all trips to China after Mao’s withdrawal ban, Reuters said last week a person familiar with the matter saying she is a US citizen. It is not known exactly when the insurance was introduced.
The case was investigated and Mao was obliged to cooperate with the investigation, said GUO, without deepening.
“Everyone in China, whether Chinese or foreigners, must comply with Chinese laws,” Mr. said, adding that China will protect its legitimate rights and interests in research.
Beijing withdrew from Chinese and foreign citizens, often related to civil disputes, regulatory investigations or criminal investigations. Reuters could not determine whether Mao had given its Chinese citizenship.
The prohibition on withdrawing from three weeks is a pronounced contrast when Mao stood on stage in Rio de Janeiro, created by industrial leaders. It has just been selected by FCI, chairwoman of the group that facilitates international trade through Factical, the process of cross -border transactions, including funding, invoices and payments.
“I’m glad what is waiting … Together we will go far,” Mao announced LinkedIn. She later went to China, where she was born and the authorities blocked to return to Alphatta, Georgia.
Based on two sources familiar with the situation that refused to identify, the Shanghai -born CEO and Wells Fargo is waiting for more information.
According to sources, the bank is looking for more information through various channels, but is trying to maintain a low profile to avoid the situation.
Mao’s withdrawal insurance is such that US -Chinese business relations remain tense. Experts said it could stop companies’ trips to mainland China, especially those born in China with foreign passports.
According to her LinkedIn profile, Mao has been a wells Fargo banker for more than a decade and works in his international factoring business.
Factisting is a financing method where companies sell their receivables to third parties such as banks in exchange for direct cash, and advise international customers for cross -border capital strategies.
According to the group’s website, FCI has 48 members, which make up almost 13% of their membership. It has a total of nearly 400 companies in more than 90 countries.
FCI did not respond to the requests to comment.
In Mao’s house, about an hour north of the Atlantic, no one was at home on Friday night. Neighbors refused to comment on Reuters.
Home is in the neighborhood of Nesbit Lakes, which shoulders are narrow, winding roads. High -level homes have a manicured lawn and large oaks that surround a small lake near the Chattahoooche River Atlantic in the northern suburb.
The average price of the district houses is just over $ 1.17 million. USD.
Exit bans
Wells Fargo Chinese business is much smaller than its Wall Street peers with branches in Beijing and Shanghai.
Several authorities with a chilled business mood in China have been caught by several foreign leaders.
Two sources that have helped to resolve withdrawal bans in the past said they were often issued by local Chinese government. Such prohibitions can be used to deal with various issues, from business disputes to family conflicts, allegations of illegal behavior or personal admiration, said sources that did not have specific knowledge of the MAO case. Both sources refused to be identified because of the sensitivity of the need.
Factorly, it usually includes companies sending international invoices from within, and may be complex and sometimes inappropriate, according to capital control, two sources said.
The Chinese Americans working in the US Commerce Department and departing to China a few months ago may also be prohibited after the US government has not been disclosed, the Washington Post and other trading venues said. The person was not named. Reuters could not immediately check the report.
The US state and commercial departments did not immediately respond to requests to comment on the Chinese Embassy in Washington.
US Secretary of State Marco Rubio said this month there was a good chance that US and Chinese leaders Donald Trump and Xi Jinping would meet, but the date was not discussed.
Although the use of withdrawal prohibitions, including foreign citizens, is growing: “Too often, companies and countries want to remain silent in the hope of improving or accelerating the process,” said Laura Harth, China, China World Human Rights Defenders, non-profit organizations.
“The signal he should send is that no one is safe when traveling to China,” she added.
(Liz Lee’s reports in Beijing, Lananh Nguyen and Rain Anand in New York; additional Rich McKay, Trevor Hunicutt, Karen Freifeld, Daphne Psaledakis and Koh Gui Qing, Scott Murdoch and Beijing Newsroom, Creatureeryery, Sauetheorye, Sauteherye, Sautete oncheealtory and Keatherye.