The Beautiful Game Has Turned Ugly In China Mar 02 2021, 9:21 AM March 02 2021, 5:07 AM March 02 2021, 9:21 AM (Bloomberg Opinion) -- In November 2020, Jiangsu Football Club clutched the China Super League trophy for the first time, having beaten eight-time champion Guangzhou Evergrande. Today, with a new season about to start, it is out of business: Pressure on embattled retailer Suning Appliance Group Co. forced the conglomerate to reconsider its investment in the team. Chinaâs soccer bubble is rapidly deflating. (Bloomberg Opinion) -- In November 2020, Jiangsu Football Club clutched the China Super League trophy for the first time, having beaten eight-time champion Guangzhou Evergrande. Today, with a new season about to start, it is out of business: Pressure on embattled retailer Suning Appliance Group Co. forced the conglomerate to reconsider its investment in the team. Chinaâs soccer bubble is rapidly deflating.