A Chinese card game is now a vital business skill

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· less than 3 min read

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Every country has its own social activity for business deals like golf in the US and sauna in Finland, but these days in China it’s all about “throwing eggs.”

That’s the translated name of the pokerlike card game Guandan that has grown into a phenomenon among Chinese business elites as the US and China become less economically entwined.

Foreign investment in China plunged to a 25-year low this spring, so Chinese dealmakers chasing yuan increasingly find themselves schmoozing with local bankers and regional government officials who dole out financial incentives to key industries—and mastering the four-person strategy game has become a reliable way to bond with them. Meanwhile, the importance of having a good Guandan face is only growing since President Biden moved to restrict US investment in Chinese AI, quantum computing, and semiconductor companies earlier this month.

But the Chinese government will probably be watching for foul play. In 2014, the country’s state media urged government officials to stop playing mahjong claiming it facilitated corrupt deals.

Zoom out: The slowdown in foreign investment comes as the Chinese economy is also dealing with slumping exports, sluggish consumer spending, record youth unemployment, and deep trouble in its outsize real estate sector.—SK

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