Chinese fast-fashion retailer Shein has confidentially filed for an initial public offering (IPO) in Hong Kong as part of a strategic move to accelerate its long-delayed listing process and to pressure UK regulators to approve its planned debut on the London Stock Exchange. The company’s London IPO plans have faced setbacks amid concerns over its supply chain, particularly related to Xinjiang, as well as scrutiny of its labor practices, data handling, and broader regulatory and geopolitical pressures. Shein's preferred listing remains London if British authorities accept a China-approved prospectus, but the firm is now leveraging the Hong Kong filing to influence the UK’s decision. The move coincides with a challenging period for the London market, which is experiencing one of its weakest phases in decades. Shein’s IPO saga has spanned over three years, and the Hong Kong filing represents a significant step in its efforts to go public amid complex regulatory environments in multiple jurisdictions.