Financial Times (gated) citing unnamed sources for the information that a senior Nomura banker has been banned from leaving mainland China.
The report (gated) says
- the ban is connected to a long-running investigation into the country’s top tech dealmaker Bao Fan, according to people familiar with the matter.
- the Nomura banker was not in detention
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This is the type of action that will cause concern among foreigners working in China.
While the FT is gated and you may not be able to access it, as background, consider the comments from European Commission Executive Vice President Valdis Dombrovskis (via Reuters, here), speaking quite separately from this issue but still of relevance. Dombrovskis was addressing new laws that China unveiled his year including a foreign relations law warning against "acts" detrimental to China's national interests and an anti-espionage law barring the transfer of information linked to national security that it does not specify, raising compliance risks for foreign companies.
- "Their ambiguity allows too much room for interpretation," Dombrovskis said.
- "This means European companies struggle to understand their compliance obligations: a factor that significantly decreases business confidence and deters new investments in China."
