The company, which was reportedly valued at $100 billion earlier this year, is taking steps to go public as tensions between Washington and Beijing escalate.
after facing a series of probes from Chinese regulators as part of a major crackdown on the country’s tech sector, which ushered in new rules that make it harder for Chinese startups to list overseas.in New York. Shein’s role as an exporter with a lighter footprint in China than other domestic tech giants could mean that it avoids the same scrutiny as an earlier generation of Chinese unicorns like Didi, Alibaba and Tencent.
“That regulatory blizzard has blown itself now, but that doesn’t mean that the Chinese government has reversed these regulations,” says George Magnus, a research associate at the China Center, Oxford University. Shein would likely not face the same scrutiny from Beijing as would companies with access to Chinese consumer data like Tencent, or Didi, but American rules banning the import of cotton produced in Xinjiang could be a concern for investors, says Magnus.
Tang has found himself caught out by Beijing’s policy changes in the past. Tang pulled together an international consortium of investors to acquirein 2017, with the goal of bringing more Hollywood movies to China, and Chinese hits to screens around the world. Chinese regulators issued new rules just months later to curb “irrational” investments amid a boom in investment by Chinese companies like Dalian Wanda in Hollywood brands like AMC and
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