His release also ends a three-year drama of extradition between China and Canada, which Beijing has accused of strained relations between the two countries as "willing accomplices" of the US.
Immediately after the US dropped the extradition request for Meng, Canadian Prime Minister Justin Trudeau announced that two Canadian nationals, Michael Spavor and Michael Kovrig, who had been detained in China shortly after Meng's detention would also be released.
While the detentions were widely seen as an act of retaliation, both Beijing and Ottawa publicly linked the two cases on Friday.
Huang Jing, a professor at Beijing University of Language and Culture, said this was a political case and the reason for the settlement was a political compromise reached between China and the US.
"So the result will naturally have a positive effect on the trilateral relationship between China, the US and Canada," Huang Jing said, as reported by the South China Morning Post (SCMP).
The agreement reached between Meng and the US could signal that some room for cooperation between China and the US remains despite their bitter disagreements in recent years, Huang added.
"It also shows that instead of going head-to-head, the two countries are willing to communicate with each other on seemingly reciprocal issues," Huang added.
Song Luzheng, an international relations researcher at Fudan University in Shanghai, said Meng's return had erased one of the most controversial issues between China and the US, paving the way for further cooperation on other issues, including the removal of punitive tariffs imposed by Donald Trump last year. 2018.
Earlier, U.S. Trade Representative Katherine Tai said the White House was still conducting "a thorough strategic assessment of crafting a robust trade policy".
Business groups in the US have also called for the removal of tariffs they say are hurting the American economy. Song predicts that the door for talks "to remove or partially remove tariffs" will reopen soon, as early as the end of next month on the sidelines of the G20 summit, although it remains unclear whether Chinese President Xi Jinping will attend in person and meet the Chinese president. Xi Jinping and US President Joe Biden.
"The Biden administration's pro-trade and tariff exemptions are also not good for the US," Song said. "There is no such opportunity next year because of the midterm elections in the US."
But some observers expect competition between China and the US in other key areas, including technology and 5G, is likely to continue and even intensify.
A Beijing-based professor who declined to be named due to the sensitivity of the topic, noted that Meng's admission that she had "knowingly made false statements" would be used as evidence in another case in which the US government has indicted Huawei and its two companies. subsidiaries with federal racketeering and conspiracy to steal trade secrets from American companies.
"This could be a victory in one battle of the entire diplomatic war, but in the long term, I don't think the US will give up on containing China."
Song agreed, saying: “There are three main problems in Sino-US relations, which include the Meng case, 5G, and tariffs.
"While tariffs could be lifted, it is unlikely that the US will compromise on issues such as 5G and semiconductors."
Beijing is also cautious - while state media has touted Meng's release as the latest evidence of China's rise, there has been little mention of the release of the two Canadians.
Meanwhile, Chinese media have played up Meng's innocent plea, which the state-owned Global Times described as "maintaining the bottom line of justice" and "preserving the dignity" of Meng and Huawei.
"The results are also effective in upholding China's national dignity," said Song.
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