The crown compared Meng's case to that of Su Bin, a Chinese businessman accused of stealing USA military secrets who was denied bail in a BC court in 2014, presenting the case as a precedent to also deny bail to Meng.
A Canadian prosecutor told a packed court in Vancouver on Friday that Meng Wanzhou, chief financial officer of Chinese telecommunications giant Huawei, defrauded USA banks in 2013, and should not be granted bail due to extreme flight risk.
China says Meng - the daughter of Huawei founder Ren Zhengfei, a former engineer in China's People's Liberation Army - has violated no laws in Canada or the United States and has demanded her release. SkyCom's alleged sanctions breaches occurred from 2009 to 2014.
Meng Wanzhou, Huawei's chief financial officer, appeared in court on Friday as she sought bail in a case which has sparked a major worldwide dispute between China and the US.
Meng arrived in the packed Supreme Court of British Columbia as dozens of photographers jostled outside the building.
Huawei staff briefed on an internal memo told Reuters on Friday the company had appointed chairman Liang Hua as acting CFO following Meng's arrest.
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Canada denied that the arrest, which was made public on Wednesday, was politically motivated, while United States officials on Thursday said Trump did not know about the arrest in advance. Meng is also known by the names Sabrina Meng and Cathy Meng.
"The Chinese government should seriously mull over the U.S. tendency to abuse legal procedures to suppress China's high-tech enterprises", said the nationalist tabloid Global Times in an editorial.
Since Saturday, the telecom executive has been detained at the Alouette Correctional Centre for Women, a facility 50km outside Vancouver's downtown core. He argued that her wealth should not disqualify her from getting bail, and suggested use of tools such as electronic monitoring to ensure she stays in the country. All security costs would be borne by her. The Vancouver Sun reported on Friday that Meng's husband Xiaozong Liu is believed to own at least one luxury home in the city. A spokesperson for the Department of Justice Canada told Daily Hive Meng is being sought for extradition by the United States.
A previous publication ban on the case was lifted when the hearing began today.
On Thursday, Prime Minister Justin Trudeau defended Canada's arrest of Meng, saying politics played no part in the decision. By most indications, Huawei is being punished for selling communications equipment to Iran. But with respect to a number of Chinese companies, we saw what happened with ZTE some months ago and many other issues of concern like that.
The Canadian prosecutor said this was untrue.
The five nations together form the "Five Eyes" intelligence alliance.