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Canadian Prime Minister Justin Trudeau on Thursday said his government had no involvement in the arrest of a top executive from Chinese technology giant Huawei, who was detained at Vancouver airport.

A Chinese statement said Meng did not break any US or Canadian laws and that Beijing expected Canada to "immediately correct the mistake" and release her from custody.

Geng said the USA and Canada haven't provided reasons for Meng's detention.

Meng's bail hearing has been scheduled for Friday.

Douglas McNabb, a Houston-based worldwide criminal defence lawyer, said the decision to pursue charges against someone such as Ms. Meng could have been made at senior USA government levels, "given the circumstances that she is a Chinese citizen whose father has significant authority in the state". In April, China appealed to the U.S.to avoid damaging business confidence after The Wall Street Journal reported Washington was investigating whether Huawei had violated sanctions on Iran.

While the government promptly protested against the arrest and demanded her release, the Foreign Ministry later said it was waiting for details on her capture.

Evans argued the arrest is just one small part of a broader, longer-term geopolitical story playing out between the US and China, and it is concerning for Canada to be caught in the middle.

Huawei, the world's biggest supplier of network gear used by phone and internet companies, has always been seen as a front for spying by the Chinese military or security services, whose cyber-spies are widely acknowledged as highly skilled.

A month later, Washington and Beijing reached a deal that would strike ZTE from the sanctions list - just days after China reportedly offered to ramp up purchases of American goods to reduce the trade imbalance with the US.

Huawei is already under intense scrutiny from US and other western governments about its ties to the Chinese government, driven by concerns it could be used by the state for spying.

"The company believes the Canadian and USA legal systems will ultimately reach a just conclusion".

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An HSBC spokesperson declined to comment.

FILE - U.S. President Donald Trump's National Security Adviser John Bolton waits for the begenning of talks with Russian President Vladimir Putin in the Kremlin in Moscow, Russia, June 27, 2018.

She is facing extradition to the United States on USA suspicions that Huawei violated sanctions against Iran by providing that country with telecommunications equipment.

"The company has been provided very little information regarding the charges and is not aware of any wrongdoing by Ms. Meng", it said. -Chinese cease-fire in a tariff war over Beijing's technology policy.

Huawei said it complies with all laws and rules where it operates, including export controls and sanctions of the United Nations, the USA and European Union.

But news of Ms Meng's detention spooked sentiment on Thursday - leaving European and United States markets on course for steep falls at the open. The escalating trade war is threatening world economic growth and has set global investors on edge. He said his office got "a few days' notice that this was in the works" but he emphasized the actions of law enforcement officials are independent from politics. Although markets were closed on Wednesday in honor of a memorial service for former President George H.W. Bush, the dip also came after a 799-point fall on Tuesday.

A profile of Huawei's chief financial officer Meng Wanzhou is displayed on a Huawei computer at a store in Beijing on December 6, 2018.

The probe of Huawei is similar to one that threatened the survival of China's ZTE Corp, which pleaded guilty in 2017 to violating USA laws that restrict the sale of American-made technology to Iran. "I don't see the basis on which this could be quashed by Canada", he said.

"Relations between the United States and China were supposed to be on the mend after a productive G20".

Huawei is not listed, but China's second-largest telecom equipment maker, ZTE Corp, sank almost 6 percent in Hong Kong while most of the nearby national bourses lost at least 2 percent.