China's bankers and business executives have become increasingly reliant on domestic capital in recent years as foreign funding has dried up, but a popular way to unlock that cash may very well involve 'throwing eggs'.
Amateur players take part in a competition of guandan, a poker-like card game, in Beijing, China August 13, 2023. REUTERS/Yew Lun Tian/File photoBEIJING, Aug 28 - China's bankers and business executives have become increasingly reliant on domestic capital in recent years as foreign funding has dried up, but a popular way to unlock that cash may very well involve "throwing eggs".
The growing interest in business circles has spawned a craze for the game nationwide, driven partly by financial constraints stemming from souring ties with China's biggest trade partner, the United States.some investment in semiconductors and set controls on other sensitive sectors, aiming to curb trade and funding that could give rival Beijing an edge in technology.
As investment prospects darken, financiers increasingly view the game as a way to build 'guanxi' or connections with officials who hold the purse strings on local projects, especially those overseas investors might consider"In finance, information is currency," said Yang, for whom a game of guandan has become a standard gambit before wining and dining local officials.
Customers ranged from retired people to young professionals seeking to build new social ties, said Hua Min, who this year opened the first bar dedicated to hosting guandan games in Beijing, the capital.
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