A bail hearing has been set for Friday, a department spokesman told the newspaper.
We'll update you as this story continues.
Canada has arrested a senior staff member on Huawei's global executive team on suspicion she violated United States sanctions against Iran.
She is being sought for extradition by the United States, he said.
USA authorities have been probing Huawei's alleged shipping of American-origin products to Iran in violation of US export and sanctions laws, sources told Reuters in April.
He declined to say more about the case, citing a publication ban requested by Ms Meng and ordered by the courts.
A Huawei spokesman said Wednesday that Ms. Meng was arrested while transferring flights in Canada.
In a statement, Huawei said it complied with "all applicable laws and regulations where it operates, including applicable export control and sanction laws and regulations of the UN, US and EU".
Huawei's relationship with the US just took a turn for the worse.
U.S. officials have been investigated Huawei over alleged violations of the country's sanctions on Iran and are seeking to extradite Meng.
Earlier this year, two USA senators wrote to Prime Minister Justin Trudeau warning him that doing business with the Chinese telecom giant would open Canada up to a huge security risk.
In a brief announcement released today, Canada's Department of Justice has announced that it has arrested the Chief Financial Officer of Huawei, Meng Wanzhou.
In August, U.S. president Donald Trump signed an act to ban the use of Huawei components or services that are "essential" or "critical" to the systems they are used. BT still planned to use Huawei phone mast antennas and some other products.
For the same reason, Australia's government blocked China's telecom giant Huawei from its 5G mobile network last summer.
Meng's arrest, which was first reported by the Globe and Mail, comes less than two months after US lawmakers sent Prime Minister Justin Trudeau a letter urging Canada to ban Huawei's equipment from Canadian wireless networks.
GCSB Minister Andrew Little said the decision to turn down the overseas network provider was because the technology was too risky - not because the company is Chinese.