Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Business > China welcomes Huawei executive home, Trudeau hugs Canadians freed by Beijing
    Business

    China welcomes Huawei executive home, Trudeau hugs Canadians freed by Beijing

    China welcomes Huawei executive home, Trudeau hugs Canadians freed by Beijing

    Published by maria gbaf

    Posted on September 27, 2021

    Featured image for article about Business

    By David Kirton and David Stanway

    SHENZHEN, China/TORONTO (Reuters) – Huawei Chief Financial Officer Meng Wanzhou arrived in China on Saturday, ending her near three-year U.S. extradition fight, the same day two Canadians detained by Beijing for more than 1,000 days returned home, potentially paving the way for improved ties between China and the two western allies.

    Meng https://www.reuters.com/business/huawei-heir-apparent-prepares-life-after-three-years-canada-court-battle-2021-09-24, the daughter of Huawei Technologies founder Ren Zhengfei, was allowed to go home after reaching an agreement with U.S. prosecutors on Friday to end a bank fraud case against her.

    The extradition drama has been a central source of discord between Beijing and Washington, with Chinese officials signalling that the case had to be dropped to help end a diplomatic stalemate.

    Two Canadians detained by Chinese authorities just days after Meng’s arrest – Michael Kovrig and Michael Spavor – were embraced on the tarmac by Canadian Prime Minister Justin Trudeau after they landed in Calgary.

    “You’ve shown incredible strength, resilience, and perseverance,” Trudeau said in a Twitter post with photos of him welcoming them home. “Know that Canadians across the country will continue to be here for you, just as they have been.”

    In the southern Chinese city of Shenzhen, Meng wore a patriotic red-coloured dress as she exited a plane to be greeted by well-wishers.

    “I’m finally back home,” Meng was quoted as saying by the Global Times tabloid backed by the ruling Communist Party. “The waiting in a foreign country was full of suffering. I was speechless the moment my feet touched Chinese soil.”

    Chinese state media welcomed Meng back but were silent about Kovrig and Spavor, who were released hours after Meng on Friday.

    Huawei said in a statement that it “looked forward to seeing Ms. Meng returning home safely to be reunited with her family.” It said it would continue to defend itself against U.S. charges.

    The agreement opened U.S. President Joe Biden to criticism from Washington’s China hawks who argue his administration is capitulating to China and one of its top companies at the centre of a global technology rivalry between the two countries.

    Some Republican senators swiftly condemned Meng’s release and urged the White House to address the U.S. Congress on the issue.

    “The release of Ms. Meng raises serious questions about President Biden’s ability and willingness to confront the threat posed by Huawei and the Chinese Communist Party,” said Marco Rubio in a text message to Reuters.

    Senator Jim Risch said in a statement that the deal was “a victory for one of the world’s most brutal and cruel regimes,” and would embolden the Communist Party “to use other foreign citizens as bargaining chips because it now knows hostage taking is a successful way to get what it wants.”

    Some Chinese commentators felt otherwise.

    “By agreeing to let Meng return to China, the Biden administration is signalling that it hopes to clear the mess left behind by the former Trump administration,” said Wu Xinbo, dean of the Institute of International Studies at Fudan University.

    ‘BLURRING WITH TEARS’

    Chinese state broadcaster CCTV carried a statement by Meng, written as her plane flew over the North Pole, avoiding U.S. airspace. Meng said her eyes were “blurring with tears” as she approached “the embrace of the great motherland.”

    Meng was detained in December 2018 in Vancouver after a New York court issued an arrest warrant, saying she tried to cover up attempts by Huawei-linked companies to sell equipment to Iran in breach of U.S. sanctions.

    Acting U.S. attorney Nicole Boeckmann said Meng had “taken responsibility for her principal role in perpetuating a scheme to defraud a global financial institution.”

    Chinese foreign ministry spokeswoman Hua Chunying said the charges against her had been “fabricated” in order to suppress the country’s high-tech industries.

    At the airport in Shenzhen, Meng’s hometown, a crowd of well-wishers chanted patriotic slogans and held aloft red banners to welcome her return.

    “The fact that Meng Wanzhou can be declared not guilty and released is a huge victory in politics and diplomacy for people in China,” said Liu Dan, who was among the crowd.

    State news agency Xinhua attributed Meng’s release to the “unremitting efforts of the Chinese government”.

    Hu Xijin, editor in chief of the Global Times, wrote on Twitter that “international relations have fallen into chaos” as a result of Meng’s “painful three years”.

    He added, “No arbitrary detention of Chinese people is allowed.”

    However, neither Hu nor other local media have mentioned the release of Spavor and Kovrig, and reactions on China’s Twitter-like Weibo social media platform have been few and far between.

    China’s foreign ministry has not commented publicly.

    China has previously denied engaging in “hostage diplomacy”, insisting that the arrest and detention of the Canadians was not tied in any way to the proceedings against Meng.

    Spavor was accused of supplying photographs of military equipment to Kovrig and sentenced to 11 years in jail in August. Kovrig had still been awaiting sentencing.

    (Reporting by David Kirton in Shenzhen and David Stanway in Shanghai; Additional reporting by Yew Lun Tian and Denny Thomas, and Michael Martina and Lucia Mutikani in Washington; Writing by Denny Thomas; Editing by Clarence Fernandez, William Mallard, Jane Merriman and Daniel Wallis)

    By David Kirton and David Stanway

    SHENZHEN, China/TORONTO (Reuters) – Huawei Chief Financial Officer Meng Wanzhou arrived in China on Saturday, ending her near three-year U.S. extradition fight, the same day two Canadians detained by Beijing for more than 1,000 days returned home, potentially paving the way for improved ties between China and the two western allies.

    Meng https://www.reuters.com/business/huawei-heir-apparent-prepares-life-after-three-years-canada-court-battle-2021-09-24, the daughter of Huawei Technologies founder Ren Zhengfei, was allowed to go home after reaching an agreement with U.S. prosecutors on Friday to end a bank fraud case against her.

    The extradition drama has been a central source of discord between Beijing and Washington, with Chinese officials signalling that the case had to be dropped to help end a diplomatic stalemate.

    Two Canadians detained by Chinese authorities just days after Meng’s arrest – Michael Kovrig and Michael Spavor – were embraced on the tarmac by Canadian Prime Minister Justin Trudeau after they landed in Calgary.

    “You’ve shown incredible strength, resilience, and perseverance,” Trudeau said in a Twitter post with photos of him welcoming them home. “Know that Canadians across the country will continue to be here for you, just as they have been.”

    In the southern Chinese city of Shenzhen, Meng wore a patriotic red-coloured dress as she exited a plane to be greeted by well-wishers.

    “I’m finally back home,” Meng was quoted as saying by the Global Times tabloid backed by the ruling Communist Party. “The waiting in a foreign country was full of suffering. I was speechless the moment my feet touched Chinese soil.”

    Chinese state media welcomed Meng back but were silent about Kovrig and Spavor, who were released hours after Meng on Friday.

    Huawei said in a statement that it “looked forward to seeing Ms. Meng returning home safely to be reunited with her family.” It said it would continue to defend itself against U.S. charges.

    The agreement opened U.S. President Joe Biden to criticism from Washington’s China hawks who argue his administration is capitulating to China and one of its top companies at the centre of a global technology rivalry between the two countries.

    Some Republican senators swiftly condemned Meng’s release and urged the White House to address the U.S. Congress on the issue.

    “The release of Ms. Meng raises serious questions about President Biden’s ability and willingness to confront the threat posed by Huawei and the Chinese Communist Party,” said Marco Rubio in a text message to Reuters.

    Senator Jim Risch said in a statement that the deal was “a victory for one of the world’s most brutal and cruel regimes,” and would embolden the Communist Party “to use other foreign citizens as bargaining chips because it now knows hostage taking is a successful way to get what it wants.”

    Some Chinese commentators felt otherwise.

    “By agreeing to let Meng return to China, the Biden administration is signalling that it hopes to clear the mess left behind by the former Trump administration,” said Wu Xinbo, dean of the Institute of International Studies at Fudan University.

    ‘BLURRING WITH TEARS’

    Chinese state broadcaster CCTV carried a statement by Meng, written as her plane flew over the North Pole, avoiding U.S. airspace. Meng said her eyes were “blurring with tears” as she approached “the embrace of the great motherland.”

    Meng was detained in December 2018 in Vancouver after a New York court issued an arrest warrant, saying she tried to cover up attempts by Huawei-linked companies to sell equipment to Iran in breach of U.S. sanctions.

    Acting U.S. attorney Nicole Boeckmann said Meng had “taken responsibility for her principal role in perpetuating a scheme to defraud a global financial institution.”

    Chinese foreign ministry spokeswoman Hua Chunying said the charges against her had been “fabricated” in order to suppress the country’s high-tech industries.

    At the airport in Shenzhen, Meng’s hometown, a crowd of well-wishers chanted patriotic slogans and held aloft red banners to welcome her return.

    “The fact that Meng Wanzhou can be declared not guilty and released is a huge victory in politics and diplomacy for people in China,” said Liu Dan, who was among the crowd.

    State news agency Xinhua attributed Meng’s release to the “unremitting efforts of the Chinese government”.

    Hu Xijin, editor in chief of the Global Times, wrote on Twitter that “international relations have fallen into chaos” as a result of Meng’s “painful three years”.

    He added, “No arbitrary detention of Chinese people is allowed.”

    However, neither Hu nor other local media have mentioned the release of Spavor and Kovrig, and reactions on China’s Twitter-like Weibo social media platform have been few and far between.

    China’s foreign ministry has not commented publicly.

    China has previously denied engaging in “hostage diplomacy”, insisting that the arrest and detention of the Canadians was not tied in any way to the proceedings against Meng.

    Spavor was accused of supplying photographs of military equipment to Kovrig and sentenced to 11 years in jail in August. Kovrig had still been awaiting sentencing.

    (Reporting by David Kirton in Shenzhen and David Stanway in Shanghai; Additional reporting by Yew Lun Tian and Denny Thomas, and Michael Martina and Lucia Mutikani in Washington; Writing by Denny Thomas; Editing by Clarence Fernandez, William Mallard, Jane Merriman and Daniel Wallis)

    Related Posts
    Five questions to ask before stepping into Employee Ownership
    Five questions to ask before stepping into Employee Ownership
    Cybersecurity as a Profit Engine: Turning Financial Services Security into Measurable Business Value
    Cybersecurity as a Profit Engine: Turning Financial Services Security into Measurable Business Value
    How Investability Helps Companies Navigate Transformational Times
    How Investability Helps Companies Navigate Transformational Times
    88% of UK and US organisations concerned about state-sponsored cyber attacks as national threat levels surge, IO research reveals
    88% of UK and US organisations concerned about state-sponsored cyber attacks as national threat levels surge, IO research reveals
    One in three SME leaders do not fully understand cash flow, despite 82% facing cash flow problems
    One in three SME leaders do not fully understand cash flow, despite 82% facing cash flow problems
    Inside the Company that Predicted the Remote Work Mega-Trend Before It Became Mainstream
    Inside the Company that Predicted the Remote Work Mega-Trend Before It Became Mainstream
    SEO Consultant Adrian Czarnoleski on How to Increase Business Value Before Exit
    SEO Consultant Adrian Czarnoleski on How to Increase Business Value Before Exit
    No SOC 2, No Deal: Why You’re Already Losing Clients - and What You Can Do About It
    No SOC 2, No Deal: Why You’re Already Losing Clients - and What You Can Do About It
    Jose Tolosa Guides Organizations Forward with Clarity, Purpose, and Integrity
    Jose Tolosa Guides Organizations Forward with Clarity, Purpose, and Integrity
    Reducing Freight Costs to Drive Global Trade Expansion
    Reducing Freight Costs to Drive Global Trade Expansion
    The Psychology of Music in the Modern Workplace
    The Psychology of Music in the Modern Workplace
    Revealed: Low-Cost/No-Cost Marketing Hacks For Results Oriented Businesses
    Revealed: Low-Cost/No-Cost Marketing Hacks For Results Oriented Businesses

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Business

    Explore more articles in the Business category

    Finance teams still stuck in spreadsheets as manual processes stall digital transformation

    Finance teams still stuck in spreadsheets as manual processes stall digital transformation

    The Future of Remote & Hybrid Leadership: Leading With Data-Driven Foresight

    The Future of Remote & Hybrid Leadership: Leading With Data-Driven Foresight

    2025-2030: The Next Technological Innovations for Business

    2025-2030: The Next Technological Innovations for Business

    The CFO’s New Playbook: 5 Ways AI Is Redefining Finance with Insights from Rishi Oberoi

    The CFO’s New Playbook: 5 Ways AI Is Redefining Finance with Insights from Rishi Oberoi

    Revolutionizing Payments: Secure, Scalable, Sovereign

    Revolutionizing Payments: Secure, Scalable, Sovereign

    Why Trademark Abuse in Paid Search Is a Growing Risk for Financial Institutions

    Why Trademark Abuse in Paid Search Is a Growing Risk for Financial Institutions

    E-commerce Customer Service: Tips

    E-commerce Customer Service: Tips

    When to Automate Your Warehouse: The Tipping Point for Operations Growth

    When to Automate Your Warehouse: The Tipping Point for Operations Growth

    Hurt at Work? 5 Financial Facts You Need to Know

    Hurt at Work? 5 Financial Facts You Need to Know

    Against the Odds: Resilience in Consumer Subsectors Offers Prime Opportunities for Investors

    Against the Odds: Resilience in Consumer Subsectors Offers Prime Opportunities for Investors

    Empower Your Workforce With Financial Wellness This Labor Day

    Empower Your Workforce With Financial Wellness This Labor Day

    Build a brand that stands out with five simple strategies, from defining your UVP to using storytelling and building loyalty. Find out more.

    Build a brand that stands out with five simple strategies, from defining your UVP to using storytelling and building loyalty. Find out more.

    View All Business Posts
    Previous Business PostWhere do small businesses turn when government support dries up?
    Next Business PostBP says nearly a third of its UK fuel stations running on empty