BUSINESS

Shein Secures Beijing Approval for Hong Kong IPO

Published: Jul. 13, 2026 6:08 p.m. GMT+8

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The China Securities Regulatory Commission said Friday that it had accepted the overseas listing filing submitted by Shein Global Holdings Ltd. through its domestic operating entity. Photo: VCG

Chinese fast-fashion retailer Shein has moved a step closer to the public markets after China’s securities regulator cleared the company to proceed with a Hong Kong listing.

The move comes as the company seeks fresh momentum amid intensifying competition and mounting regulatory pressure in its key Western markets.

The China Securities Regulatory Commission said Friday that it had accepted the overseas listing filing submitted by Shein Global Holdings Ltd. through its domestic operating entity. The company plans to issue up to 341.6 million ordinary shares and list on the Hong Kong Stock Exchange.

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China's securities regulator cleared Shein's Hong Kong listing filing, planning up to 341.6 million ordinary shares.
Shein's valuation fell from over $100 billion (2022) to about $64 billion; 2025 revenue was $34.5 billion.
Regulatory pressure increased: US ended duty-free treatment for low-value Chinese shipments; France fined Shein €40 million and €22.5 million.

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Who’s Who

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What Happened When

2022：: Shein raised capital at a valuation exceeding $100 billion.

2022：: Chinese e-commerce company PDD Holdings Inc. launched Temu, a low-price rival to Shein.

Early 2023：: Shein’s valuation fell to about $64 billion.

2023：: Shein expanded beyond fashion and launched a third-party marketplace model.

2024：: Shein surpassed Zara, H&M, and Uniqlo to become the world’s third-largest fashion retailer by sales (per GlobalData).

2025：: Shein’s gross merchandise volume rose 22.7% year-on-year to $67.5 billion (per a February 2026 Nomura Securities report).

July 2025：: French regulators fined Shein €40 million for misleading discount claims and unverified environmental statements.

2025：: Washington ended the duty-free treatment for many low-value Chinese shipments.

Early June 2026：: France’s consumer protection agency imposed a €22.5 million penalty on Shein over issues involving returns, product information, and order confirmations.

Before July 10, 2026：: Previously reported plans for a U.S. listing in 2023 and a London listing in 2025 stalled.

Thursday, July 10, 2026：: China’s commerce ministry and eight other government agencies issued guidelines encouraging retail companies to tap capital markets.

Friday, July 11, 2026：: China Securities Regulatory Commission accepted Shein’s overseas listing filing for a Hong Kong IPO, planning to issue up to 341.6 million ordinary shares.

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