China-founded fast-fashion retailer Shein has filed for an IPO in Hong Kong to pressure British regulators into approving its planned London debut, according to the Financial Times. The company privately submitted a draft prospectus last week with Hong Kong’s exchange while seeking approval from the China Securities Regulatory Commission. Shein filed for the Hong Kong listing partly to pressure the U.K. Financial Conduct Authority into easing its risk disclosure rules and to keep alive what could be London’s biggest IPO in years. If the U.K. regulator accepts a China Securities Regulatory Commission-approved prospectus, London would remain Shein’s preferred exchange. The dual-track strategy comes after Shein’s proposed London IPO failed to secure approval from Chinese regulators.