Summer Archives

Kyuhoon Kim Beijing, China - Positive Planet China

I spent this summer in Beijing, China working at Positive Planet China, which is an international NGO specializing in microfinance. My job was to help a local microcredit company in rural China, Huimin Microfinance Company, prepare for an impending initial public offering by doing two things. (*Note: Initial public offering is a process by which a privately owned company issues stocks to the public to obtain more money and becomes publicly traded.)

First, I collected and assembled all of the financial education tools that Positive Planet already had, into a single toolkit. It consisted of PowerPoint slides, instruction manual, interactive tools like budgeting calendar and storybooks. I analyzed the organization and relations between each file, so that the newly created toolkit is organic and logically make sense. The end material was an all-in-one PowerPoint slide, all-in-one implementer’s manual, and supplementary tools and documents like the calendars and storybooks. These files were uploaded on the Positive Planet website for other implementers (international/local nonprofit organizations, microfinance companies’ management teams) to adopt and make use of. Because Positive Planet is an international NGO, its website served as a viable platform for Huimin to improve publicity. Given that Huimin was preparing for an IPO, such publicity effort was quite needed and appreciated by the Huimin management. On Positive Plaent’s part, improved publicity meant more project opportunities from international funders and donors, and better presence in the Chinese microfinance sector.

Second, I helped digitalize their microfinance loan process through implementing a scheme to deploy point-of-sale devices, also known as card swipers, to Huimin. The borrowers at Huimin were encouraged to use the bank card, instead of cash, to repay their loans. This helped reduce the risk of carrying cash, simply because people lose cash, and it is hard to do bookkeeping when cash is used. We also had the purpose of improving the data quality of the company’s loan portfolio, which needed to be more transparent as the company prepared for the IPO. My job included making and editing the educational materials (PowerPoint slides etc.) explaining the rationale behind the project, in an effort to convince the clients to believe that the plastic square is an actual financial medium that carries value. They were, of course, reluctant to believe so and preferred seeing the physical cash in their hand.

I learned three things during my internship in China. First, the value of friendship. I initially found the new environment to be quite frustrating especially because many people were transitioning in and out of the office. I felt like being left out in a place where a lot was going on. But as the time passed, I did my job, and we built the relationships, things started to make sense. I then understood what it meant to come to work for the people you work with. I had the honor of working with great minds, resourceful colleagues, and lasting friends. Second is the importance of honor. We had a once-per-week working from home policy, and 8 hours-per-day free working hour policy. Despite this, people guaranteed the working hours, honored the policy, and were resourceful even when online. Third, and probably the most important, is a whole new world view. China for me was such a foreign land, until I went there and saw what it really was like. Nothing exquisite. People wore suits to go to work, were busy making phone calls, and they were just trying to live a better life than yesterday. The online payment landscape in China was such an eye-opener as well. Everything could be paid and settled for on mobile phones. Technologies like scanning QR codes to add friends, pay them, call taxi or Uber and pay the drivers, etc. were very prevalent and being put into work to better people’s lives.

For all these incredible experiences and eye-openers, I can’t thank the Ingram Family enough who advised me throughout the process, for this summer.

For more, please visit Positive Planet China.