Britain was mounting a charm offensive on online retailer Shein, with ministers saying they had conversations with the seller of $5 t-shirts about the benefits of a London listing.

First it was New York, then London, but reports this morning suggest that Hong Kong might be where the Shein IPO finally lands amid ongoing regulatory roadblocks.

China-founded e-commerce platform Shein is reportedly looking to go public in Hong Kong rather than London as its UK initial public offering plan stalls.