The company’s founder, Chris Xu, is considering a citizenship change to sidestep China’s tougher rules for offshore listings, according to Reuters. It is unclear how much Shein would be looking to raise from its New York debut. A spokesperson for the firm denied plans for an IPO or Xu’s intention to change his citizenship. (Reuters)

Talking point: Shein had to set aside its plan to go public two years ago amid rising tensions between the U.S. and Chinese governments. If the launch is finalized, it would be the first major U.S. listing by a Chinese company since Chinese regulators started to tighten oversight of overseas listings in July. The ride-hailing giant Didi delisted from the New York Stock Exchange in December 2021, and plans to go public in Hong Kong. Meanwhile, JD Technology, the fintech division of Chinese e-commerce giant JD.com, is reportedly working with banks to launch a Hong Kong IPO this year, as it seeks to raise between US$1 billion to US$2 billion.