China card game Guandan craze: Guandan is a centuries-old card game. The Chinese business elite are increasingly using it as a unique way to meet people. This is because China’s government is controlling the economy and reducing foreign investment. Guandan has gone from being a pastime for eastern local government officials to a cultural phenomenon among venture capitalists and business elite in recent years. It takes two dice to play Guandan.
Yang Yiming, a semiconductor and defense investment banker, said the game is crucial to government funding. Defense and semiconductors are Yang Yiming’s specialties. “We can agree that officials love this game,” he said. “There is also some common ground.” This is our meeting place. PitchBook reports that US venture capital investments in China have dropped from $32.9 billion in 2021 to $9.7 billion in the most recent year. This sharp drop in investment coincides with the Guandan’s revival.
This seismic shift occurs as Beijing and Washington’s economic relationship cools. U.S. Vice President Joe Biden‘s restrictions on semiconductor investment have slowed the two superpowers’ already slow money flow. President Xi Jinping’s plan for state involvement in technology, real estate, and other industries is strengthening. This has reduced private investment in China. This drop is due to government involvement.
Guandan has become a creative way to gain “guanxi,” or government money connections, in this competitive investment environment. “In our field, information is the most important currency,” Yang says, adding that Guandan is often played before formal negotiations and deal-making. Yang says, “In our field, information is most valuable.” Yang says “Information is the most important currency.”
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Beijing broker Yu Longze says organization participants must understand the game. He accidentally said “our boss told everyone on the team to master the game this month.” Hearing this shocked me. Strategic partnerships and complicated card combinations allow players to evaluate each other’s strategic skills, risk-taking, and teamwork. This is possible because the game involves team planning. These are the most crucial factors when seeking business partnerships.
Guandan is more than a tool for office politics and business success. Because the task is difficult and allows for discussion, participants come from diverse backgrounds. Hua Min, who opened Beijing’s first Guandan-only bar, said customers range from retirees to young professionals looking to make friends. Hua Min’s bar opened recently. The only bar in Beijing that serves Guandan is Hua Min’s.
Li Keshu touted the game’s benefits during the pandemic, which prevented friends from gathering. Playing this game doesn’t require any risk, unlike Texas Hold’em. Money bets kill friendship, he says.
No one should assume every interaction is risk-free. Even though many fans don’t think the game is gambling, Chinese officials have been chastised for bribing people with such games. Many fans don’t think the game is about gambling, but it is. The majority of supporters disagree. China’s national sports authority held its first Guandan competition this year. This shows Beijing isn’t surprised by the game’s popularity. The competition will spread across China for the first time.
Guandan, an old game, has become a key institution that shows how power, information, and business are changing in modern China without anyone knowing. This change is happening as China’s business-politics relationship changes dramatically.
Our Reader’s Queries
What is the most popular trading card game in China?
In China, there are numerous trading card games that have gained popularity, but none can compare to the fame of Yu-Gi-Oh!. Originating from a Japanese manga series, it was later adapted into an anime series and eventually transformed into a trading card game. Since its release in 1999, it has taken the country by storm and has become a household name among trading card enthusiasts.
What card game do they play in China?
China has a rich tradition of card games, with some of the most popular ones being “Dou Di Zhu” (Fight the Landlord), “Ma Jiang” (Mahjong), “Sheng Ji” (Win-Win), and “Zhao Peng You” (Finding Friends). These games are not only enjoyed by people of all ages, but are also a great way to socialize and have fun. With their unique gameplay and rules, these card games are sure to keep you entertained for hours on end.
What was the first playing card game in China?
During the T’ang Dynasty in China, around 800 AD, the first playing cards were created by the people. These cards were made using the newly discovered material, paper, and the game was referred to as “the leaf game”.
Which Chinese card game is similar to Rummy?
Mahjong, a game of skill, strategy, and luck, is often compared to the Western card game rummy. To differentiate it from mahjong solitaire, it is also known as mahjong rummy. With its unique blend of chance and strategy, this game is a favorite among players of all ages.