Wells Fargo(US:WFC) Xin Lang Cai Jing·2025-07-24 09:27Group 1 - The arrest of Xu Zewei, a key figure in Shanghai Jita Semiconductor, in Italy under a U.S. extradition request highlights the ongoing technological and financial competition between China and the U.S. [1][3] - The U.S. accuses Xu of being involved in a 2020 cyberattack against American vaccine institutions, claiming his hacker group has ties to the Chinese government, although the evidence is primarily based on an email login record [3][5] - The U.S. actions against Xu are perceived as a strategy to curb China's technological rise, given his significant role in a company that poses a direct threat to U.S. semiconductor giants like Texas Instruments [3][5] Group 2 - Following Xu's arrest, China responded by restricting the travel of American banker Mao Chen Yue, indicating a tit-for-tat approach in the geopolitical landscape [5][9] - Mao, a key figure in Wells Fargo's operations in China, is under investigation for her involvement in a criminal case related to cross-border fund flows, which may expose vulnerabilities in U.S. financial institutions operating in China [7][9] - This counteraction by China not only targets weaknesses in the U.S. financial system but also serves as a warning that judicial and diplomatic maneuvers are not exclusive to the U.S. [9]