China bans Nomura senior investment banker from leaving mainland -sources

china-bans-nomura-senior-investment-banker-from-leaving-mainland-sources
China bans Nomura senior investment banker from leaving mainland -sources

Chinese authorities have imposed a travel ban on a senior Nomura Holdings banker who oversees the firm’s investment banking operations in China, according to two anonymous sources. This ban comes at a time when Western businesses are growing concerned about the deteriorating prospects in China’s economy, as well as new laws that make operating conditions more challenging. The banker in question, Charles Wang Zhonghe, is not allowed to leave the mainland. It is unclear when the ban was implemented, but Wang is based in Hong Kong. Nomura declined to comment on the matter, and Wang did not respond to a request for comment. The ban is reportedly connected to China’s investigation into tech dealmaker Bao Fan and his former colleague Cong Lin. Cong, the former president of China Renaissance Holdings, is being investigated for suspected wrongdoing during his time as the CEO of ICBC International. Wang had an overlap with Cong at the unit from 2011 to 2016 and is assisting authorities with their investigation. Chinese foreign ministry spokesperson Wang Wenbin stated that he was unaware of the situation and reiterated China’s commitment to providing a market-oriented and internationalized business environment for foreign enterprises. This travel ban is part of a larger trend of exit bans in China, which has raised concerns among foreign business lobbies. Despite these concerns, the European Union trade chief stated that the bloc has no intention of severing ties with China but emphasized that China could do more to reduce the perception of risk. Wang, who joined Nomura in 2018, has previously worked at Deutsche Bank, Zhong De Securities, and ICBC. He recently attended work events in mainland China and was appointed as chairman of Nomura Orient International Securities in Shanghai.

About News Team

Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

Have a tip we should know? tips@rhd.news

Most Read

  1. News
    Pandora Papers Financial Leak Shows Us the Secrets of the World’s Rich and Powerful
    3 years ago
  2. Health
    US Supreme Court Rejects J & J TALC Cancer Case Appeal
    3 years ago
  3. Lifestyle
    9 Habits that Drain your Daily Focus and How to Avoid Them
    3 years ago
  4. BUSINESS
    Women’s Demand for Shapewear – the big Trends
    3 years ago
  5. BUSINESS
    Valentino Launches its Cosmetics Line
    3 years ago
  6. Health
    US Promises to Share 60 million Doses of AstraZeneca Vaccines
    3 years ago
  7. Health
    UK Offers Aid Amid Surging COVID-19 Cases in India
    3 years ago
  8. Sports
    Thousands of fans welcome Charlton funeral cortege at Old Trafford
    7 months ago
  9. News
    Brit left fighting for life after train derails in Argentinia
    7 months ago
  10. BUSINESS
    Dubai faces down airline rivals with $50 bln jet orders
    7 months ago
  11. Sunak
    UK’s Sunak brings back Cameron, sacks Braverman
    7 months ago
  12. Sports
    Man United’s Hojlund, Eriksen withdrawn from Denmark team duty
    7 months ago
  13. Health
    Autumn Sneezing Syndrome is on the rise… here’s what you can do
    7 months ago
  14. Canada
    Canada beat Italy to win Billie Jean King Cup for first time
    7 months ago

Follow @rushhourdaily: