By now, if you’re running a global business and haven’t taken a long, hard look at your China travel protocols, it’s time.

Wells Fargo just sent the strongest corporate signal yet: they’ve suspended all travel to China after one of their managing directors, Chenyue Mao, a U.S. citizen, was banned from leaving the country.

If that doesn’t raise a red flag for multinationals, I don’t know what will.

This isn’t some junior associate on vacation. Mao is a high-level executive, managing director, and chairwoman of an international finance group. She’s not new to China. She was born in Shanghai, has worked closely with Chinese companies in trade finance for years, and regularly travels there for business. And yet, she was hit with an exit ban, reportedly without prior warning, upon entering the country.

If this can happen to her, it can happen to anyone.

This isn’t an isolated incident. Over the past few years, China has increasingly used exit bans as a tool on both citizens and foreigners. These aren’t always related to criminal charges. Sometimes it’s a civil dispute, a regulatory probe, or even vague “national security” concerns. Many victims don’t even know they’re restricted until they try to leave the country.

That’s what makes this so unnerving. There’s no court hearing. No warning. No transparency. Just the sudden realization that you, or your employee, is not going anywhere.

And yet, U.S. companies keep sending people over.

Wells Fargo, to their credit, acted fast. They’ve suspended all China-bound travel while the situation unfolds. Other companies would be smart to follow suit.

Let’s not kid ourselves; this is happening amid some of the most strained U.S.-China relations in recent memory. Tariffs are back on the table. Strategic distrust is growing. And while the two nations still depend on each other economically, Beijing’s recent behavior signals that it’s more willing than ever to flex legal and political muscle when it feels threatened or needs leverage.

As Mark Headley, CEO of Matthews Asia, put it: “This kind of event is not a step in the right direction.” Headley has decades of experience in China, and even he admits this news has shot right to the top of his risk list.

Can you blame him?

Wells Fargo’s situation is making senior executives, compliance teams, and HR departments everywhere hit pause. Do you really want to be the next headline? Do you want to be the CEO explaining to your board why one of your managing directors is stuck in Shanghai?

This is about employee safety and corporate liability. If companies keep sending people into high-risk jurisdictions without up-to-date risk assessments, they’re not just being reckless, they’re being negligent.

Let’s remember: Mao is a U.S. citizen. That didn’t shield her. She’s also a tenured executive with over a decade at Wells Fargo. That didn’t help either. If anything, her stature may have worked against her. She has deep ties to the trade finance and factoring industries, closely monitored by Chinese regulators. Her knowledge, network, and access might be exactly why she was made a target.

Companies need to ask themselves: Who else is vulnerable?

We’re already seeing global banks quietly adjust. Some now require execs to travel in groups, carry additional documentation, or delay trips altogether. Others are implementing internal “China clearance” protocols, where senior travel to China has to be approved at the highest levels.

This is smart. But it may not be enough.

China is no longer a predictable place to do business. Yes, it’s still the world’s second-largest economy. Yes, its consumer base is massive.

But if your people are at risk of being used as political pawns, or caught in legal limbo because of vague laws and non-transparent enforcement, it might be time to rethink how your company engages with China, period.

This is not about decoupling or fear-mongering. It’s about being realistic. Corporate travel is more than just a flight and a hotel room. It’s about trust, trust that your people will be safe, that the rule of law will be respected, and that your brand won’t be dragged into a geopolitical mess overnight.

As Headley recalled about a 2003 incident, when a U.S. citizen colleague was detained by Chinese police and marched off at the airport: “I was completely powerless to help.” That same feeling of helplessness is echoing across boardrooms this week.

Wells Fargo’s move is a wake-up call, not a one-off. Every company with ties to China should be reviewing its risk posture right now. That includes legal teams, HR, the C-suite, and investors.

This incident isn’t just about one banker; it also assesses whether multinational companies can still count on China to respect global norms when things get complicated. Right now, the answer is far from reassuring.

As the old saying goes, don’t poke the panda. But in today’s environment, maybe don’t fly into the panda’s den either, at least not without serious precautions.