{"id":2623,"date":"2018-12-13T03:04:52","date_gmt":"2018-12-13T03:04:52","guid":{"rendered":"http:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/?p=2623"},"modified":"2018-12-13T03:04:52","modified_gmt":"2018-12-13T03:04:52","slug":"huawei-the-life-of-chinese-tech-heiress-meng-wanzhou-2","status":"publish","type":"post","link":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/2018\/12\/13\/huawei-the-life-of-chinese-tech-heiress-meng-wanzhou-2\/","title":{"rendered":"Huawei: The life of Chinese tech heiress Meng Wanzhou"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">A high-flying Chinese executive has been caught in the centre of a growing geo-political dispute between two of the world&#8217;s largest economies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Meng Wanzhou is the chief financial officer of Huawei and the elder daughter of the telecom giant&#8217;s founder.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">She was arrested in Canada last week for allegedly breaking US sanctions on Iran and faces extradition to the US.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">China and Huawei insist that she has not broken any laws but she could be jailed for up to 30 years if found guilty.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">So who is she?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Ms Meng, also known as Sabrina Meng and Cathy Meng, has risen up the ranks of Huawei, China&#8217;s largest private company.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The 46-year-old started her career as a receptionist in 1993, and after graduating with a master&#8217;s degree in accountancy from the Huazhong University of Science and Technology in 1999, she joined Huawei&#8217;s finance department.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">She became the company&#8217;s chief finance officer (CFO) in 2011 and was promoted to vice-chair a few months before her arrest.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2018, she was ranked 12th on Forbes&#8217; list of top Chinese businesswomen, four spots lower than where she ranked the year before.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ms Meng&#8217;s links to her father, billionaire Ren Zhengfei, were not known to the public until a few years ago.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At the age of 16, in a practice highly unusual in Chinese tradition, she took the surname of her mother, Meng Jun, who was Mr Ren&#8217;s first wife.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What is she charged with?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Ms Meng was taken into custody in Vancouver while she was changing planes on 1 December.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Prosecutors say she conspired to defraud banks by telling banks a Huawei subsidiary was a separate company &#8211; thereby helping Huawei circumvent US trade bans.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The US has been investigating the world&#8217;s largest smartphone maker since 2016, which it believes used a subsidiary to bring US manufacturing equipment and millions of dollars in transactions to Iran.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ms Meng&#8217;s arrest has now sparked an escalating diplomatic incident between China, Canada and the US.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Life revealed in court<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In documents filed in the Supreme Court of British Columbia, where Ms Meng&#8217;s case is being heard, details have emerged revealing the CFO&#8217;s personal life.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">She is a thyroid cancer survivor who suffers from hypertension and a sleep disorder, her lawyers said, in need of daily doses of medication.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;I continue to feel unwell and I am worried about my health deteriorating while I am incarcerated,&#8221; she said in the filing. &#8220;I currently have difficulty eating solid foods and have had to modify my diet to address those issues.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Her lawyers argued the mother of four was not a flight risk because of her &#8220;strong roots&#8221; in Vancouver.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">She told the court she was a Canadian resident until 2009, after which she returned to China.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, she bought a six-bedroom house with her second husband in the city and would return regularly to visit him and her children, some of whom attended Canadian schools until 2012.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That home is now reported to be worth C$5.6m (\u00a33.3m, $4.2m), according to property records and an affidavit Ms Meng read out in court.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2016, the couple bought a second property, a mansion worth C$16.3m &#8211; both homes have been put up as collateral for bail.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On 11 December, she was granted bail of C$10m (\u00a36m; $7.4m) including C$7m in cash.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why Vancouver?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The court papers\u00a0give a fascinating insight into the life of a senior Chinese executive, says BBC World Service Asia-Pacific editor Michael Bristow.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Vancouver has for some years been a destination of choice for wealthy Chinese people; as a place to live, educate their children, or as an insurance policy against the uncertainties of life back in China.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Continue reading <a href=\"https:\/\/www.bbc.com\/news\/world-asia-46507974\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A high-flying Chinese executive has been caught in the centre of a growing geo-political dispute between two of the world&#8217;s largest economies.<\/p>\n","protected":false},"author":78,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[7],"class_list":["post-2623","post","type-post","status-publish","format-standard","hentry","category-article","tag-china"],"_links":{"self":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/2623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/users\/78"}],"replies":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/comments?post=2623"}],"version-history":[{"count":1,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/2623\/revisions"}],"predecessor-version":[{"id":2624,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/posts\/2623\/revisions\/2624"}],"wp:attachment":[{"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/media?parent=2623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/categories?post=2623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/eastasiaandoceaniablog\/wp-json\/wp\/v2\/tags?post=2623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}