UK listing changes may woo Shein

LONDON – The UK’s Financial Reporting Council (FRC) has proposed temporarily relaxing strict auditing standards for Chinese companies – such as Shein – in a bid to revive the flagging London Stock Exchange.

The move would allow Chinese-registered entities to use domestic auditing standards when offering global depositary receipts in London, addressing what the government has called “a perceived barrier discouraging some Chinese-registered issuers” from choosing the UK as a listing venue.