China Bans Wells Fargo Executive From Leaving, Reviving Fears of ‘Hostage Diplomacy’

The incident highlights CCP’s ‘hostage diplomacy’ and might be related to CCP top officials sending money abroad, observers said.

A Wells Fargo bank in Washington on Oct. 3, 2024. Madalina Vasiliu/The Epoch Times

A senior executive of Wells Fargo, a U.S. citizen, has been banned from leaving China, renewing concerns over doing business in the communist state.

Analysts said that amid continued tensions between China and the United States and the Chinese Communist Party’s (CCP) intensified internal conflicts, safety risks faced by foreign businessmen in China are rising sharply.