US lawmaker targets banks over Shein IPO

Washington, Aug 26 (IANS) The Republican chairman of the US House Select Committee on China has accused three American financial institutions of helping Chinese-founded fast-fashion company Shein pursue a Hong Kong listing despite allegations linking its supply chain to forced labour.

Congressman John Moolenaar called on the three American financial institutions, JPMorgan, Goldman Sachs and Morgan Stanley, to withdraw their support for Shein’s planned initial public offering, which he said was expected on the Hong Kong Stock Exchange next month.