If convicted, she could face more than 30 years in prison.
Her actions allegedly put banks at risk of violating USA sanctions and incurring severe penalties, court documents said.
It is alleged she used Hong Kong company Skycom to access the Iranian market in deals that violated United States sanctions.
While Canada is under pressure to co-operate with the United States, he said China has an interest in maintaining positive relations with Canada to balance its tense trade relationship with the U.S.
Chinese exec facing US extradition appears in court for breaching Iran sanctions
Meng was arrested in Vancouver at the behest of USA authorities.
The hearing on whether to grant her release on bail was due to resume later Monday. She says she was taken to hospital for the treatment of hypertension after her arrest, and is seeking release prior to an extradition hearing.
Ms Meng's husband, Mr Liu Xiaozong, is listed as the owner of the house. They also outlined how her entire family has deep roots in Vancouver, where she's being held. A judge had accepted Meng's request to bar both police and prosecutors from releasing information about the case prior to the hearing. The company, a market leader across many countries in Europe, Asia and Africa, previously said it has complied with all applicable rules.
On Sunday, Chinese officials summoned the USA ambassador to Beijing to protest Ms. Meng's detention.
Chinese Vice Foreign Minister Le Yucheng told Ambassador Terry Branstad that the U.S. had made an "unreasonable demand" to Canada of detaining Meng while she was passing through Vancouver, China's foreign ministry says.
China will take further action based on U.S. actions, according to Le.
China's Vice Foreign Minister Le Yucheng has summoned the U.S. Ambassador to China, Terry Branstad, in a protest over the arrest of Huawei Technologies Co. There was no immediate reaction from Canada.
On Thursday, Prime Minister Justin Trudeau defended Canada's arrest of Meng, saying politics played no part in the decision.
Meng was detained last week while changing planes in Vancouver, Canada, with prosecutors saying she had committed fraud by lying about links between Huawei and a shell company used to sell telecommunications equipment to Iran in breach of USA sanctions.
A Canadian prosecutor urged a Vancouver court to deny bail to Meng, whose case is shaking up U.S. Ltd, which Huawei has described as one of its "major local partners" in Iran. He noted that some Skycom workers used Huawei email addresses and employees in Iran used a different set of stationary depending on whether they were doing Huawei or Skycom work.
In December 2012, Reuters reported that documents showed Skycom had tried to sell embargoed Hewlett-Packard computer equipment in 2010 to Iran's largest mobile-phone operator. The reason this case has escalated to an arrest isn't the business Huawei may or may not have done with Iranian companies, but the allegations of deliberately misleading U.S. banks - hence committing fraud. Meng is accused of misrepresenting Huawei's connection with Skycom to several banks involved in the case.
"This isn't some last minute thing", he said.
Meng said that she has had "numerous health problems" during her life, including surgery for thyroid cancer in 2011.
China Daily accused the US administration of trying to limit the use of Huawei technologies -the biggest global supplier of network gear for phone and internet companies - in order to reserve that spot for its own companies, adding: "The latest move targeting Huawei is nasty".
Chinese media accused America of "abusing" global law because Huawei is out-competing American firms in the technology market.
"When I talked to the president of the United States he's not talking about going beyond March", Lighthizer said on CBS's "Face the Nation".
"When the Chinese ask a telecom company, "We want you to turn over all the data you've gathered in the country you're operating in", they will do it".