Charles Wang Zhonghe, a Senior Nomura Banker, Has Free Movement in China. He simply c - Printable Version +- EDMW Eat Drink Man Woman Forum edmw (https://edmw.org) +-- Forum: EDMW (https://edmw.org/forumdisplay.php?fid=1) +--- Forum: Eat-Drink-Man-Woman (https://edmw.org/forumdisplay.php?fid=9) +--- Thread: Charles Wang Zhonghe, a Senior Nomura Banker, Has Free Movement in China. He simply c (/showthread.php?tid=2352)

Charles Wang Zhonghe, a Senior Nomura Banker, Has Free Movement in China. He simply c - tripleyou - 09-27-2023 Charles Wang Zhonghe, a Senior Nomura Banker, Has Free Movement in China. He simply cannot depart The chairman of the Chinese investment bank for the Japanese lender cannot go back to Hong Kong, where he currently resides Sept. 26, 2023 According to persons with knowledge of the situation, a senior investment banker at Nomura has been informed by Chinese officials that he is permitted to travel freely within the Chinese mainland but not outside of it. According to the persons, Charles Wang Zhonghe, the chairman of China investment banking at the Japanese company based in Hong Kong, recently informed his boss that he cannot go outside of Japan or back to the Asian financial centre. They said that he is aiding a Chinese government investigation. According to the persons, Wang's prior employment is a factor in the probe. The Wall Street Journal reported on Tuesday that he is not in custody and that he is still reachable. The Financial Times had earlier reported on Wang's exclusion. Additionally, Wang serves as the head of the Chinese joint venture of the Japanese bank, Nomura Orient International Securities. He began his career as an investment banker in New York and has also held positions at the erstwhile Merrill Lynch and Deutsche Bank in Hong Kong. According to his LinkedIn page, Wang served as the deputy CEO of the Industrial and Commercial Bank of China International, a division of the largest bank in the world by assets, until joining Nomura in 2018. Between 2011 and 2016, he was stationed in Hong Kong and was in charge of business growth, the firm's investment banking, and capital markets operations. Cong Lin, the former CEO and chairman of ICBC International, is currently being held in custody in mainland China as part of a corruption investigation. Bao Fan, a well-known Chinese businessman who created and oversaw China Renaissance Holdings, a boutique investment bank, has also been caught up in that inquiry. Bao vanished in February of this year and is no longer reachable. This year, as the government has grown more concerned about the sharing of data and other information across borders, China has taken a severe stance against several foreign companies. Chinese police searched Capvision, an expert network consulting company, detained local staff from Mintz Group, a due diligence firm, and interrogated officials from Bain & Co., a worldwide consulting firm, earlier this year. According to a person with knowledge of the situation, Wang wasn't asked to stay in the nation because of his employment with Nomura. But in a message posted on X, formerly known as Twitter, Rahm Emanuel, the American ambassador to Tokyo, mentioned the company. A message from Emanuel's official X account stated, "China says they are open for business, but it doesn't feel like it for the employees of Astellas, Bain & Company, Mintz, Capvision, and now Nomura." "Police raids, arrests, and detentions are targeting an increasing number of businesses, and foreign investment is declining week after week. The PRC is in a league of its own when it comes to [the] subject of 'containing' China, the post said. People who are under investigation or who are collaborating with government investigations have been known to face exit bans from China. Both Chinese and foreign nationals are subject to these travel limitations, which are sometimes unknown to the applicants until they make an effort to leave mainland China. The people in question may be a part of investigations that go on for months or even years. They might also be foreign nationals who are being held to exert pressure on kin to re-enter the country despite facing no charges of misconduct. The length of these exit prohibitions may differ. Some have previously been lifted.