Stop Uyghur Genocide welcomes reports of Shein’s stalled London Stock Exchange bid

The group has been campaigning over the past year against Shein’s attempt to be listed, including raising the possibility of legal action and submitting evidence to the Financial Conduct Authority (FCA) which SUG says shows links to forced labour in the retailer’s supply chains.  

Now, Reuters and City AM have reported that the China Securities Regulatory Commission has refused to give Shein the green light to list in London. 

According to Reuters, allegations that Shein’s products contain cotton from China’s Xinjiang region and the potential legal challenge have complicated the London listing, reportedly risking embarrassment for the Chinese government. 

SUG began its campaign against Shein in June 2024, believing that the retailer was due to file a prospectus with the FCA with a view to public listing on the LSE.

In a letter to the FCA, SUG highlighted that Shein had already been refused listing on the US stock exchange, and questioned the LSE’s ability to detect and respond to the allegations of forced labour in the fashion retailer’s supply chain.

In August 2024, SUG sent a dossier of evidence to the FCA which it says reveals links in Shein’s supply chains to textiles from the Xinjiang region of China, where the forced labour of the Uyghur people is strongly associated with the textile production industry.  

This evidence was also presented to an in-house lawyer at Shein by Leigh Day lawyers, acting on behalf of SUG, ahead of the company’s appearance in front of the Business and Trade Select Committee in January 2025. During that hearing the retailer was accused by an MP of showing “wilful ignorance” over its supply chains.

In April 2025, Leigh Day provided further evidence to the FCA on the possible presence of forced labour in Shein's supply chains, having commissioned a report from an independent supply chain expert investigating the allegations.

SUG's campaign was aided by non-profit groups Good Law Project and Law for Change, assisting with campaigning and fundraising support.

Rahima Mahmut, executive director of Stop Uyghur Genocide, said:

“We welcome news that Shein’s attempt to list on the London Stock Exchange has been halted. This decision sends a powerful message that companies suspected of benefiting from forced Uyghur labour and human rights abuses will face increasing scrutiny and consequences. We urge investors, regulators, and the public to hold fast to principles of ethical business and human rights accountability. The Uyghur community and all those fighting against genocide deserve no less.”

Leigh Day partner Ricardo Gama, who represents Stop Uyghur Genocide, said:

“Our clients are pleased that, if press reports are true, Shein won’t be raising capital on the London market. There is evidence to support allegations of Uyghur forced labour in Shein’s supply chain, and our clients hadn’t seen anything from Shein which credibly rebutted that evidence. While it’s not clear whether the FCA actually ever approved Shein for listing in London, it would have been a sign of a race to the bottom in regulatory standards if Shein’s listing had actually gone ahead.”

Harmit Kambo, campaigns manager at Good Law Project, said:

“It would have demeaned UK PLC if the FCA had waived through a company that reportedly trashes the environment, has been accused of dodging taxes, and appears to be linked to forced labour of Uyghur people. But despite this, it appears the regulator was considering approving.

"Stop Uyghur Genocide's legal challenge, which we have supported, has played a part in what I hope really is the end of Shein's attempt to work its way into the UK stock market.”