Guandan: China's card game strategy for building connections | World Business Watch

well as foreign funding dwindles amid strained international relations Chinese financiers are turning to an unexpected source to unlock domestic capital a

centuries-old card game known as guandan translated as throwing eggs the spoke alike game has found its way into the hearts of Bankers business Executives

and even local officials seeking to strengthen connections take a look at this next report for more on this as foreign funding dries up in China amid souring relations with the United

States Chinese bankers and business executives are taking to a novel way of unlocking domestic Capital by throwing eggs that's the rough translation for guantan

a poker like card game that's been around for decades but it took off among Venture capitalists a few years ago when they realized it was popular among wealthy local government officials in

eastern regions said business people like it because they can deepen relationships with others by playing when dealing with different departments in the financial Circle people can build

friendships with each other by playing guandan as a way to communicate people prefer using entertainment to communicate wandan has four players who

pair up in teams using two decks players race to throw down various card combinations to empty their hand before their opponents games can stretch for

hours and during this time potentially useful connections can be made and Nuggets of information shared total us-based venture capital investment in

China plummeted to 9.7 billion dollars last year from 32.9 billion dollars in 2021 according to Market data firm pitch book and domestic private Capital has

also dwindled as president Xi Jinping signaled his preference for a bigger State presence in the economy by cracking down in areas from technology to real estate over the last few years

so financiers now see the game as a way to build what's called Juan XI or connections with officials who hold the purse strings on local projects

was opened in Beijing earlier this year owner Hua Min set a customers range from retirees to Young professionals seeking to break into new Social Circles

you can reach out to society by playing guantan to reach out to all kinds of people and their rediscovery identity I feel that under such circumstances

playing guantan allows you to do that with minimal trial and error players rotors spoke to say they do not gamble though it's not unheard of Chinese officials in the past have been

censured for receiving bribes through card games but for now Beijing does not seem to be bothered by The Game's growing popularity with China's national Sports Authority organizing the first

Nationwide guandan competition earlier this year [ __ ] it [Music]