boardgames

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BEIJING, Aug 28 (Reuters) - 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 term refers to Guandan, a poker-like card game that has been around for decades, but has gained fresh life among venture capitalists a few years ago as they awoke to its popularity among wealthy local government officials in eastern regions.

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.

This month U.S. President Joe Biden barred 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 too risky.

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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