Shein, LSE, and the UK’s Moral Playbook
Business Secretary Jonathan Reynolds has thrown his hat into the ring for the Shanghai‑based fashion juggernaut Shein to list on the LSE. According to him, a London listing would mean Shein ticks its boxes on “ethical and moral targets.”
Why the LSE matters
- Reynolds says a company active in the UK needs to be regulated from home to keep the wheels turning smoothly.
- If a business is playing in British playgrounds, it should be pulled in by UK laws, not somewhere else.
- His goal is simple: no forced labour in the supply chain, no shady tax deals, and no environmental slip‑ups.
The “loophole” eyebrow raise
He’s worried about an escape hatch that lets firms dodge import taxes by sending parcels straight to customers. “If I’s any company avoids paying its fair share, I’ll want a coffee chat with them before they set up more stores in the UK.”
Reynolds was asked on Times Radio whether he’d welcome Shein going public in the UK. He answered, “I’d say yes, but only if you want your flavour of regulation by the UK. That’s how we keep labour practices, taxes and the planet in check.”
High‑standards, low excuses
He emphasised that any publicly listed company here must meet very high standards in its disclosure practices. “Nobody should be dealing in forced labour, and every listing needs to hit the ethical and moral checks on tax and all other business aspects,” he stated.
Bottom line
In short, Rory (the business secretary) wants to make sure that Shein, if it lists on the LSE, plays by British rules—from human rights to tax fairness. And if Shein is ruffling feathers with a tax loophole, the Deputy will likely bring it to the table for a serious talk.
