Shein's Hong Kong IPO Order Book Covered Despite Tariffs

Shein's Hong Kong initial public offering, worth up to $1.8 billion, has had its order book covered, according to sources. The listing is proceeding even as rising tariffs and import fees weigh on the company's flotation. Hong Kong's trade deficit has almost disappeared as exports surge, and JD.com and Chinese state firms have moved into a border megaproject in the city.