Wanzhou, the daughter of the technology giant's founder Ren Zhengfei, faces extradition to the US on suspicion that the executive violated USA sanctions targeting Iran.
Meng is the daughter of Huawei founder Ren Zhengfei, and also sits as the deputy chair of the global telco giant.
The US Justice Department declined to comment.
US authorities have suspected Huawei's alleged involvement in Iranian sanctions violations since at least 2016, when the USA investigated ZTE Corp., Huawei's smaller Chinese rival, over similar violations.
"The Chinese side has lodged stern representations with the USA and Canadian side, and urged them to immediately correct the wrongdoing and restore the personal freedom of Ms. Meng Wanzhou".
Justice Department spokesman Ian McLeod says in an email that Wanzhou Meng was arrested Saturday.
It comes as Huawei is said to be facing a probe by the U.S. Justice Department for violating sanctions against Iran.
The tech company said it complies with all laws and rules where it operates.
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The injured passengers have been transported to area hospitals in Little Rock and Benton, with two individuals being airlifted. Those involved in the crash were also reportedly sent to Baptist Hospital, Saline Memorial, CHI St Vincent and UAMS.
U.S. Sen. Ben Sasse, a member of the Senate Armed Services and Banking committees, said China is working to undermine U.S. national security interests.
Meng's arrest is related to alleged violations of United States sanctions, according to Reuters news agency. "The company believes the Canadian and USA legal systems will ultimately reach a just conclusion", it said.
Wanzhou Meng, 46, the chief financial officer of Huawei Technologies, was arrested on December 1 and appeared in B.C. Supreme Court in Vancouver on Wednesday for a bail hearing, which was adjourned until Friday.
The news of the arrest broke today.
A USA judge last month issued an order finding that China's ZTE Corp violated probation imposed in March 2017 when the company pleaded guilty for conspiring to evade US sanctions by illegally shipping US goods and technology to Iran.
BT is also removing Huawei equipment from the core of its existing 3G and 4G networks, the BBC reported.
Fellow Chinese technology giant ZTE had similarly been removed from the US trading blacklist at the start of a year ago by the US Department of Commerce's Bureau of Industry and Security following the company's guilty plea to illegally exporting products to Iran.
Canada is yet to take any action against the Chinese company's 5G technology.