The news spooked investors with U.S. stocks plunging on fears of a flare-up in Chinese-U.S. tensions.
Date: Dec. 6, 2018
By: Dawn Liu, Linda Givetash and Alexander Smith
BEIJING — China demanded the release of a senior executive at tech giant Huawei Technologies
after she was detained in Canada on extradition charges to the U.S.
The arrest of Meng Wanzhou, chief financial officer and daughter of the company’s founder Ren Zhengfei, spooked investors with U.S. stocks tumbling on fears of a flare-up in Chinese-U.S. tensions.
She was arrested in Vancouver, British Columbia, on Dec. 1.
China’s Ministry of Foreign Affairs said officials have been contacted both in the U.S. and Canada to demand Meng’s release. Geng Shuang, a spokesman for the ministry, said her detention needed to be explained, and both countries had to “effectively protect the legitimate rights and interests of the person concerned.”
The Wall Street Journal reported earlier this year that U.S. authorities are investigating whether Huawei violated sanctions on Iran. [FULL STORY]