Beijing confirmed Monday that an employee of US bank Wells Fargo was barred from leaving China, following reports last week that Shanghai-born managing director Chenyue Mao was under an exit ban.

China has long courted foreign investment, emphasising its openness to global business. Spokespersons from the Chinese ...

Chenyue Mao, a Wells Fargo banker, has been blocked from leaving China due to a criminal investigation, raising concerns about corporate travel between the U.S. and China. Wells Fargo has suspended ...