LONDON (Reuters) – British business minister Jonathan Reynolds said on Thursday the “gold standard” was for the UK to regulate companies that a business presence in the country, when asked about a potential London market listing by online fast-fashion retailer Shein.

In response to a question about Shein, Reynolds told reporters the financial regulator would make decisions about any specific company.

“I’ll speak in abstract terms, but our aspiration should be, if there’s a business doing a lot of business in the UK, the gold standard for us is regulating from the UK,” Reynolds said.

(Reporting by Paul Sandle, writing by Muvija M, editing by Catarina Demony)