Asia's biggest company has called the listing a multi-billion-dollar vote of confidence in the city's markets.

There is a concern that upbeat earnings, progress on trade and signs of resilience in economy could keep US Fed from further measures.

VIPKid dismissed the news as untrue and said it was in fundraising talks with Tencent and other investors.

Flint's departure was revealed as HSBC said it was facing an ‘increasingly complex and challenging global environment.’

Shanghai shares have gained 17 per cent so far this year. But they slid about 7.6 per cent between early May and early June.