China call for the immediate release of Huawei vice chair

China has called for immediate release of Huawei telecoms global chief financial officer whose arrest is slowly turning into a diplomatic war.

Meng Wanzhou was arrested on Saturday in Vancouver and she is facing extradition in the US. China has called on Ottawa and Washington to give reason for her arrest.

Confirming the communication was China’s foreign minister’s spokesman who said that they have US and Canada separately on Thursday to give reasons for her arrest and release her immediately.

Ever since her arrest, the Chinese government have been proving Meng all the necessary assistance.

Who is Meng Wanzhou?

Meng Wanzhou is one of the company’s vice chair and daughter to the founder of Huawei Ren Zhengfe.

She is the eldest of Ren’s three children and was a board member of Skyom Tech which business in Iran. She was appointed vice chair of Huawei this year on a rotating basis in what was considered to be a grooming process to take over her father’s business.

According to Canada’s department of Justice, Meng was arrested for violation of US sanction with a court hearing scheduled for Friday this week.

Stock market currently

Following the arrest of Meng, US and Asian shares dipped as fears of US-China trade war truce becoming unattainable.

United States increased interest rates have become a topic of discussion as Beijing and US begin a three months of negotiation aimed at solving their trade war.

Europe main stock indices have hit their lowest following the opening of the stock market while bench marking in France, Germany and Italy all went down by 2%.

Since 2016, US have been investigating Huawei for allegedly shipping US original products to Iran contrary to US exports and sanction laws.

On their side Huawei claim they have complied to all applicable laws including sanction laws.

Slavian Mwangecho
Passionate blogger on a day to day activities happening in Kenya, Africa and around the world. A keen follower of the latest news making headlines around the world

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