The London stock market dodged a bullet with Shein | Nils Pratley

China’s fashion giant will list in Hong Kong with a shrunken price tag – and big questions over its business model

In a parallel world, we might now be preparing for the arrival on the London stock market of Shein, the giant Chinese-founded fast-fashion retailer. Or it could have happened already.

The possibility of a London flotation was a running story during 2024 and into last year as politicians from both main parties engaged in behind-the-scenes wooing. Shein was seen as a shot of tech adrenalin for a listless local listings scene, and an opportunity to advertise the UK’s openness to international capital.