According to reports, Chinese e-commerce platform Shein is seeking to list in Hong Kong instead of London, as its UK initial public offering (IPO) plan has stalled. Reuters cited sources familiar with the matter as saying that the fast fashion company plans to list in Hong Kong because its London IPO plan has not yet obtained approval from Chinese regulators. The report stated that the company plans to submit a draft prospectus to the Hong Kong Stock Exchange "in the coming weeks" and will go public "within the year". However, it is unclear whether Shein has applied to or obtained approval from the China Securities Regulatory Commission (CSRC) regarding its Hong Kong listing. The company had previously sought approval from Chinese regulators to advance its listing procedures in New York and London. Shein has not responded to requests for comment. The Wall Street Journal reported last year that the online retailer withdrew its U.S. listing plan after the U.S. Securities and Exchange Commission (SEC) required the online retailer to publicly file for an IPO. The report said the fast fashion company then shifted its listing location to London. The online fast fashion retailer is shifting its focus to Hong Kong, just days after Chinese electric vehicle battery maker Contemporary Amperex Technology Co., Limited (CATL) made its debut in Hong Kong. CATL's stock surged on its first day of trading in Hong Kong last week, and the company raised over $4.5 billion in the listing, making it the largest global IPO of the year so far. The Hong Kong IPO market may be recovering from a low point, but in many ways this is not the focus for investors. A bigger concern is that its two largest markets — Europe and the United States — are introducing restrictive measures that will erode Shein's competitiveness. Shein's competitiveness has historically relied on selling clothing items under $20, such as dresses, to price-conscious Western consumers. Take Washington as an example: it has taken action to end the longstanding practice of granting tax-free treatment to goods under $800. Last week, the European Union followed suit, announcing plans to impose a flat 2-euro fee on low-value e-commerce parcels entering the bloc. © 2021 Meishun (Hong Kong) Management Consulting Co., Ltd. and Meishun (Hangzhou) Management Consulting Co., Ltd. All rights reserved. Meishun Meiyin (Hangzhou) Consulting & Management Co., Ltd. is a domestic subsidiary of Hong Kong Meishun Management Consulting Company under the same ultimate controlling shareholder. Both companies are under the same ultimate controlling shareholder, managed under the framework of "one China", and comply with the laws of Hong Kong and mainland China.