Fashion titan Shein has won approval from China’s market watchdog for its initial public offering application in Hong Kong, the China Securities Regulatory Commission said in a statement on Friday.
Shein’s plan to sell up to 341.6 million shares and list on the Hong Kong stock exchange has been approved, the CSRC said.
Plans to list the company in New York and London had been stymied in recent years by regulatory hurdles, according to media reports.
A large selection of products at amazingly low prices has boosted Shein’s popularity, along with China’s Temu and AliExpress, bringing them into the same league as Amazon in the US.
Founded in 2012 by Chinese-born entrepreneur Xu Yangtian, Shein moved to Singapore in 2021 and sells fashion clothes in more than 150 countries.
With most of its factories located in China, Shein sets itself apart from so-called fast fashion competitors through the speed with which it designs products and a highly efficient supply and production chain.
Xu pledged to allocate greater resources to the southern Chinese province of Guangdong earlier this year, seeking to increase the efficiency of the local apparel supply chain and international logistics network.
He said at the time that the Chinese Communist Party and the provincial government had given Shein substantial support.
Shein’s platform exports exceeded 100 billion yuan ($14.5 billion) in 2025.
‘Selective reopening’
Beijing’s approval means “China is still supporting Hong Kong as a key platform for raising offshore capital,” Kelvin Lam, a China-focused economist at Pantheon Macroeconomics, told AFP.
The US regulatory ban on Shein’s New York listing bid, which cited supply chain issues, reflected the geopolitical risks involved in listing abroad, Lam said, adding that the company had also “been going through a lot of problems listing” in the UK.
With the approval, China “removes a long and huge political uncertainty for Xi,” Han Lin, China director for consulting firm The Asia Group, told AFP.
“Beijing is signaling selective reopening, not deregulation — rewarding companies that strengthen China’s economy while staying aligned with national security and regulatory priorities,” he added.
The online platform has come under scrutiny for its environmental footprint and allegations of human rights abuses for years, but its chief executive told AFP last year that the company has “zero tolerance” for forced labour.
Shein also drew criticism last year in France for revealing child sex dolls on her platform.
In June, French authorities imposed two fines on Shein totaling more than 22 million euros ($25.1 million), citing problems with product traceability, environmental labeling and delivery times.
