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Shein, originally named ZZKKO, was founded in China in 2008 by entrepreneur and search engine optimization (SEO) marketing specialist Chris Xu (Xu Yangtian). [12] [6] [13] Information on Xu's educational and career background remains elusive as of 2022, with sources conflicting on details of his biography.
In a statement, a Shein spokesperson said, "Shein makes import compliance a top priority, including the reporting requirements under U.S. law with respect to de minimis entries.
In June, Donald Trump's pick for US Secretary of State, Marco Rubio, said he had "grave ethics concerns" about Shein's "deep ties to the People's Republic of China": "Slave labour, sweatshops, and ...
Shein, the Chinese online fashion retailer worth more than $60 billion that is under scrutiny from U.S. lawmakers over its labor practices, has registered with regulators for an initial public ...
Critics, such as The New York Times, have alleged that China's state-owned companies are a vehicle for corruption by the families of ruling party leaders who have sometimes amassed fortunes while managing them. [11] As of October 2019 China had more than 350 individual entries in the Government-owned companies of China category page.
[12] [13] Bear Stearns was the financial advisor and co-lead manager for the IPO of China Telecom. [14] Bear Stearns Asia under Tang was also the financial advisor for Guangshen Railway Co Ltd., [ 15 ] Beijing Yanhua Petrochemical Ltd., [ 16 ] and Yanzhou Coal Mining Co Ltd. , [ 17 ] arranging financial transactions in their respective industries.
The government is also interested in the type of Chinese data that the company will disclose to regulators in the U.S. as Shein seeks a listing there, the newspaper reported.
Pressed further on Shein’s supply chain and worker conditions, Ms. Zhu replied: “Obviously we comply with laws and regulations everywhere we do business in the role.