Wells Fargo has suspended all business travel to China after one of the US bank's employees was barred from leaving the country, raising concerns among foreign firms operating in the Asian country, Reuters reported Friday.
The move follows a string of similar cases, including the jailing of a Japanese Astellas Pharma worker for espionage, the 2024 detention of AstraZeneca China President Leon Wang, and the earlier exit ban on a senior Nomura banker, according to the report.
Mintz Group also faced a $1.5 million fine and employee detentions, Reuters wrote.
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