US, China Look to Limit Impact of Tech Head's Arrest

In this courtroom sketch Meng Wanzhou right the chief financial officer of Huawei Technologies sits beside a translator during a bail hearing at B

Meng Wanzhou, the chief financial officer of telecommunications giant Huawei and daughter of its founder, was detained at the request of the United States during a layover at the Vancouver airport last Saturday - the same day that Presidents Donald Trump and Xi Jinping of China agreed over dinner to a 90-day ceasefire in a trade dispute that threatens to disrupt global commerce.

The United States government is alleging the chief financial officer of China's Huawei Technologies committed fraud in 2013, when she misled American financial institutions about her company's links to a Hong Kong firm doing business in Iran, opening the banks to risk of violating US sanctions.

The governments of the UK, Australia and New Zealand have moved to prevent Huawei technology being used in their future 5G mobile phone networks, following a U.S. drive to stop its allies from purchasing from the company.

The Crown says Meng is alleged to have said Huawei and Skycom were separate and she allegedly lied to an executive of an unnamed financial institution, which it asserts put the institution at risk. He said her actions exposed the banks to potential fines for violating US sanctions.

A Canadian government lawyer asked the court to deny her bail, saying she has been accused of "conspiracy to defraud multiple financial institutions" and if convicted faces more than 30 years in prison.

Huawei CFO Meng Wanzhou, 46, who is also the daughter of the company founder, was arrested on December 1 at the request of the United States.

Meng has been pressed on the relationship between the firms by U.S. bankers and other financial institutions and has reportedly denied any ties.

The official China Daily said yesterday in an editorial there was still "no telling" on what grounds she had been detained, and that it seemed to be part of United States plans to pressure its allies not to use Huawei goods.

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Huawei has become the world's biggest supplier of equipment used by phone and internet companies.

Earlier this week, Canadian officials said Ottawa was continuing to review Huawei's technology for use in upcoming fifth generation networks.

As China pressures Canada to release her, the detention has also created domestic political fissures with opposition parties expressing frustration over a lack of information from the federal government.

"We hope that Japan can provide a fair competitive environment for Chinese companies operating in Japan, and avoid doing anything that harms mutual trust and cooperation", Geng said. He said Meng would agree to wear an ankle monitor.

Chinese state-run media said the arrest was part of USA efforts to curtail China´s tech industry. If freed, her lead lawyer said, she plans to live in one of her two Vancouver properties with her husband and two school-aged children, who lived in the city from 2009 to 2012 while her husband pursued a master's degree at a local university. Chinese Commerce Ministry spokesman Gao Feng said China is confident it can reach a deal during the 90-day timeout.

McCallum was clear that Chinese consular officials will have access to Meng "just as we seek consular access for detained Canadians around the world, including in China".

"The Chinese obviously are not happy that this woman was grabbed at the airport in Vancouver, but they also recognize that there [were] judicial proceedings in the USA, that there was an global mandate to grab her that had been issued", Ken Courtis chairman, Starfort Holdings told BNN Bloomberg in an interview on Friday.

Huawei staff briefed on an internal memo told Reuters on Friday the company had appointed Chairman Liang Hua as acting CFO following Meng's arrest.

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