America’s Justice Department might cut a deal with Huawei’s finance chief Meng Wanzhou.
The proposal would allow Ms Meng to return to China from Canada – where she was arrested.
However, Ms Meng would have to admit wrongdoing in the case, reports the Wall Street Journal.
Ms Meng is accused in the United States of allegedly violating sanctions on Iran.
She faces bank fraud charges for supposedly misleading HSBC in such a way it might break the sanctions.
Ms Meng was arrested two years ago this week on a US warrant while changing planes in Vancouver.
She is on bail but has not been allowed to leave Vancouver.
Ms Meng is adamant she has done nothing wrong.
She is said to be “reluctant” to make any admissions she believes to be untrue.
She maintains her arrest was politically motivated.
Outgoing President Donal Trump fought an all-out campaign against Huawei.
He claims the tech company uses its kit to spy on countries and people.
However, he has failed to provide any evidence to support his claims.
Ms Meng is the daughter of Huawei’s founder Ren Zhengfei.
The Chinese company and Ms Meng are said to have conspired to defraud HSBC by misrepresenting its relationship with Skycom.
Authorities in America allege Huawei and Ms Meng used Skycom – a suspected front company operating in Iran – to buy embargoed goods.
Ms Meng’s arrest has also led to diplomatic friction between China and Canada.
China cut off imports of Canadian canola seed.
And two Canadians were arrested on espionage charges – yet to be resolved.
Trump’s trenchant stand against Huawei has also soured relationships between American and Britain.
The UK had agreed a deal with Huawei for it to supply infrastructure to a new 5G network.
But Prime Minister Boris later made a U-turn on the agreement.
Huawei has consistently denied the spying allegations.