Shein moves closer to London’s controversial £50 billion list as China denies human rights abuses
Fast fashion giant Shein plans to list in London in the first half of this year.
The £50 billion list could be sorted by Easter, sources say, as Chancellor Rachel Reeves heads to China for talks on economic and financial cooperation, which could help Shein win regulatory approvals.
The Chinese company declined to comment. A float would be controversial due to allegations of forced labor in the online retailer’s supply chain.
Top money managers have warned that the city should not become a ‘place of last resort’.
Based in Singapore, Shein was founded in China and makes its clothing there.
Human rights groups have accused China of using slave labor and claim that Uyghurs are forced to produce cotton. Beijing has denied the abuses.
Human rights concerns: Fashion giant Shein relies on suppliers in China to make its cheap clothes
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