"Getting a piece of the action" — Phrase of the week
China’s stock market boom draws record numbers of first-time investors
Our phrase of the week is: "getting a piece of the action" (分一杯羹 fēn yì bēi gēng).
Context
Since 24 September, China's A-share market—which includes the Shanghai, Beijing, and Shenzhen stock exchanges—has experienced an extraordinary rally.
In just five days, the Shanghai Composite Index surged by 21%, the Shenzhen Component Index climbed 30%, while the ChiNext and STAR Market indices soared by 42% and 36%, respectively.
The surge was triggered by an announcement from the People's Bank of China (PBoC) on 24 September. During a press conference hosted by the State Council Information Office, PBoC Governor Pān Gōngshèng 潘功胜 unveiled several new measures aimed at stimulating the struggling Chinese economy.
In addition to expected policies like lowering the reserve requirement ratio, Pan signaled direct support for the stock market, aiming to boost liquidity and provide investors with greater flexibility to invest more freely.
Investor confidence skyrocketed, and so did share prices.
The market received another boost following a Politburo meeting on 26 September. In an unusual move, the meeting readout acknowledged the challenges facing the Chinese economy, and strongly hinted that additional stimulus measures would be forthcoming.
This combined messaging from government authorities ignited one of the strongest rallies in China's stock market history, drawing in a wave of new investors.
Unlike most international exchanges, where institutional investors dominate, Chinese stock markets are heavily populated by individual investors, known as sanhu (散户 sǎnhù).
Record numbers of trading accounts were opened by sanhu "new investors" (新股民 xīngǔmín)—people with little or no investment experience, betting their own money, and hoping to strike it rich. Like first-time gamblers entering a casino, they were largely unaware of the risks lurking in the market.
When the market surged, first-time investors were ecstatic.
They rushed to open accounts and join the frenzy, eagerly hoping to get a piece of the action.
当市场暴涨时，"新股民"兴奋异常，纷纷开户入市，期待着能够在这场狂欢中分一杯羹。
Dāng shìchǎng bàozhǎng shí, xīn gǔmín xīngfèn yìcháng, fēnfēn kāihù rùshì, qīdài zhe nénggòu zài zhè chǎng kuánghuān zhōng fēn yì bēi gēng.
And with that, we have our Sinica Phrase of the Week.
What it means
The phrase "get a piece of the action" is a common Chinese expression that translates directly as "share" (分 fēn) and "one bowl of soup" (一杯羹 yì bēi gēng). Gēng refers to a type of thick or clear soup found in Chinese cuisine.
"Sharing a bowl of soup" has roots dating back to the second century BCE, during the period known as the Chu–Han Contention (楚汉战争 Chǔ-Hàn zhànzhēng). This four-year period in Chinese history spans the fall of the Qin dynasty in 206 BCE and the founding of the Han dynasty in 202 BCE. It was marked by a power struggle between Xiàng Yǔ 项羽 of the Chu state, and Liú Bāng 刘邦, who would later become the founding emperor of the Han dynasty.
The phrase appears in the Records of the Grand Historian (史记), written by Sima Qian (司马迁) in the 1st century BCE, after the establishment of the Han dynasty. This monumental work provides a comprehensive historical account of China, spanning over two thousand years from the time of the legendary Yellow Emperor to Sima Qian's contemporary Han dynasty, covering 24 dynasties in total—including the period of the Chu–Han Contention when no dominant dynasty existed.
The phrase is first found in the chapter titled “Annals of Xiang Yu” (项羽本纪 Xiàng Yǔ Běn Jì), which recounts a conversation between the two competing warlords, Xiang Yu and Liu Bang.
Concerned that a prolonged standoff would be unfavourable for him, Xiang Yu captured Liu Bang’s father and threatened to kill him, vowing to make the father into a meat soup if Liu Bang did not surrender.
In response, Liu Bang said to Xiang:
"My father is your father (because we have made a formal pledge of brotherhood).
If you must cook your father, then I hope to share a bowl of his soup."
吾翁即若翁，必欲烹而翁，则幸分我一杯羹。
Wú wēng jí ruò wēng, bì yù pēng ér wēng, zé xìng fēn wǒ yì bēi gēng.
This clever use of reverse psychology worked, and Xiang Yu ultimately spared Liu Bang's father from a grim end. Liu Bang then went on to found the Han dynasty which ruled China for more than four centuries.
From its gruesome origins of blackmail and cannibalism, the phrase evolved over the centuries to take on a more benign meaning. "Sharing a bowl of soup" came to signify “getting a piece of the action”, usually referring to taking a share of profits.
And that's exactly what new sanhu investors in China's stock markets are hoping to achieve right now.
Andrew Methven is the author of RealTime Mandarin, a resource to help you learn contemporary Chinese in context, and stay on top of the latest language trends in China.
Read more about how this story is being discussed in the Chinese media in this week’s RealTime Mandarin.
Bonus: another phrase which came up a lot in discussions of the stock market rally was "making pots of cash" (盆满钵满), which is also an earlier Phrase of the Week, and originally a Cantonese word.