Shein, the China-founded fast-fashion retailer, 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 IPO plans have faced obstacles due to increasing scrutiny over labor practices, data handling, and geopolitical tensions, including concerns related to its supply chain in Xinjiang. Despite London remaining Shein’s preferred listing venue if the UK accepts a China-approved prospectus, the firm has shifted focus to Hong Kong amid regulatory and political challenges. The filing in Hong Kong is seen as a tactic to influence British authorities, particularly the Financial Conduct Authority (FCA), to greenlight the London listing. Shein’s IPO saga has spanned over three years, with prior attempts to go public in the US and UK hindered by regulatory and reputational issues. The deliberations over the Hong Kong IPO are ongoing, and no final decisions have been made publicly. This development coincides with a difficult period for the London market, which is facing one of its weakest moments in decades.