Shein's Hong Kong IPO gets green light from China's securities regulator - Global Times

SOURCE / ECONOMY China’s securities regulator clears Shein's Hong Kong IPO Move signals China’s opening-up push, boosts cross-border e-commerce: experts By Zhang Weilan Published: Jul 10, 2026 08:30 PM Photo: VCG China's fast-fashion retailer Shein has received approval to proceed with its Hong Kong IPO, according to a notice on the website of the China Securities Regulatory Commission (CSRC) on Friday. Chinese experts said the move signals strong support for China's private sector and platform economy, while also highlighting the country's drive to deepen opening-up and strengthen global trade ties. According to the notice issued by the CSRC's Department of International Cooperation, the filing materials submitted by Shein through its domestic operating entity, Guangzhou Shein International Import & Export Co, have been received. The company plans to issue no more than 341,613,000 overseas-listed ordinary shares and to list on the Hong Kong Stock Exchange. Shein said in a note sent to Global Times on Friday that its IPO has successfully obtained filing approval from the CSRC. As a global fashion and lifestyle company, Shein offers inclusive and constantly updated products at affordable prices, the company said. The choice of Hong Kong as its listing venue further demonstrates the company's determination to deepen its roots in China and grow with China, as well as its confidence in contributing to the development of the cross-border e-commerce industry, it added. The CSRC stated that if any major developments occur between the date of the notice and the completion of the offshore offering and listing, Shein must report them through the regulator's overseas listing filing system in accordance with applicable rules for domestic companies seeking offshore listings. The company is also required to submit a report on the issuance and listing results within 15 business days after completing the offshore listing, according to the notice. The regulator added that Shein must strictly fulfill commitments related to requirements raised by the National Development and Reform Commission (NDRC) and the Ministry of Commerce, and comply with relevant laws, regulations, and rules both in China and overseas markets throughout the listing process. According to the notice, if Shein does not complete the offshore listing within 12 months of the filing confirmation, it must update its filing materials before continuing the process. The CSRC emphasized that the notice only confirms the filing information for the company's offshore listing and does not constitute a judgment or guarantee regarding the investment value of Shein's securities or investors' returns. It also does not represent any assurance regarding the authenticity, accuracy, or completeness of the filing materials. Founded in 2017 in Guangzhou, South China's Guangdong Province, Shein has grown into a global fast-fashion e-commerce platform serving consumers in about 160 countries and regions, with annual export sales exceeding 100 billion yuan. The company reportedly shifted its headquarters from Guangzhou to Singapore in 2022, while continuing to operate facilities in Guangzhou, Singapore, Los Angeles and other key markets. It is the largest cross-border e-commerce company operating in Guangzhou, and has driven the growth of 60,000 upstream and downstream businesses, and created 1 million jobs. A report by Xiaoxiang Morning Herald based in Central China's Hunan Province, citing third-party e-commerce data firm ECDB, said Shein's global gross merchandise volume reached $84.77 billion in 2025, up 40 to 45 percent from a year earlier. The retailer had been widely reported to be pursuing a Hong Kong listing. According to Reuters reports, the company has waited a year for the green light from Beijing for its initial public offering. The company had previously planned listings in the US and the UK. It ultimately turned to the Hong Kong capital market. This reflects changes in the overseas listing environment for Chinese companies going global and serves as a typical example of the shift in Chinese firms' overseas listing paths, Cui Fan, a professor at the School of International Trade and Economics, University of International Business and Economics, told the Global Times on Friday. A Hong Kong IPO could have positive spillover effects for the broader industrial and supply-chain ecosystem, while also signaling support for the orderly development of private firms and platform companies. "Such a move could help promote the healthy and standardized growth of cross-border e-commerce, stabilize expectations among international investors and strengthen Hong Kong's position as an international financial center," Cui said. Shein is a prime example of the great success achieved in the digital and intelligent transformation of the apparel industry, Hu Qimu, a professor at the Maritime Silk Road Institute of Huaqiao University, told the Global Times on Friday. Shein's choice of Hong Kong as its listing venue further demonstrates the company's determination to deepen its roots in China, as well as its confidence in boosting the development of the cross-border e-commerce industry, Hu said. Cui further noted that the approval reflects China's policy focus on better leveraging domestic and overseas markets and resources, while signaling the country's determination to accelerate the building of an open economy and share investment opportunities with global investors. 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