FT reports that a senior Nomura banker has been banned from leaving mainland China

<p><a href="https://www.ft.com/content/115b87c9-532d-468d-903c-127f8f31667b" target="_blank" rel="nofollow">Financial Times (gated)</a> citing unnamed sources for the information that a senior Nomura banker has been banned from leaving mainland China.</p><p>The report (gated) says</p><ul><li> 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.</li><li>the Nomura banker was not in detention</li></ul><p>—</p><p>This is the type of action that will cause concern among foreigners working in China. </p><p>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 <a href="https://www.reuters.com/world/china-could-do-a-lot-reduce-eu-perception-risk-eu-trade-chief-2023-09-25/" target="_blank" rel="nofollow">(via Reuters, here</a>), 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.</p><ul><li>"Their ambiguity allows too much room for interpretation," Dombrovskis said.
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"This means European companies struggle to understand their compliance obligations: a factor that significantly decreases business confidence and deters new investments in China."</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.