Finance

Jones Lang LaSalle (JLL)

Location: Beijing, China
Position: Capital Markets Intern
Dates: June 2024 – August 2024

ProjectGreater China Capital Markets Underwriting with Structured Screening, Valuation & Diligence Readiness

Representative example: supported a cross-border China office mandate for a Southeast Asian conglomerate, with ESG embedded into underwriting
Screened 22 cities with JLL’s China office market framework and a PESTLE lens, narrowing to 5 core markets and a 20-asset universe
Compared cities on liquidity and institutional-grade stock across 4 investable regions identified by JLL research, then focused on Beijing, Shanghai, Guangzhou, Shenzhen, and Chengdu
Underwrote shortlisted assets using 3 valuation approaches: discounted cash flow, replacement cost, and comparable transactions
Built an ESG pre-screening gate inspired by the GRESB Real Estate Assessment, consolidating around 40 ESG and operating indicators into 1 template
Ran the desktop gate to remove about 40 percent of candidate assets before full valuation and due diligence, mainly due to ESG red flags or outsized future capital expenditure (CAPEX)
Structured screening into Management, Performance, and Development to link governance quality, environmental performance, and forward upgrade risk to underwriting
Management checks covered ESG policy coverage, ownership and SPV transparency, unresolved compliance or safety issues, and availability of 12 months of continuous records
Performance benchmarking covered energy and carbon intensity, water use, waste, green-building certifications, and evidence of efficiency upgrades
Development screening assessed upgrade and CAPEX risk to meet tighter energy codes and carbon requirements, plus refurbishment or extension risks impacting cash flow and exit assumptions
Used peer benchmarking within the same city, submarket, vintage, and system type, then translated results into red, amber, and green signals for go / no-go decisions
Where key utilities data were missing, used proxy indicators such as equipment age, chiller efficiency, building management systems, sub-metering, indoor-air monitoring, and maintenance records
Built 10 Excel, Python, and Tableau dashboards combining valuation outputs, market fundamentals, and ESG signals at city, asset, and pipeline levels, including scenario-based risk-exposure views
Led bilingual briefings for capital-markets leadership and client managers; outputs directly set site-visit sequencing, targeted ESG questions, and governance and due-diligence checklists
Produced standardized asset books and data packs per property, covering submarket positioning, tenant concentration, WALE, vacancy, rents, operating costs, models, and diligence notes in a consistent structure

SAIF Partners (SoftBank Asia Infrastructure Funds)

Location: Shanghai, China
Position: Investment Analyst Intern
Dates: June 2022 – October 2022

ProjectThematic Investment Analytics in Dental with Policy Intelligence & Governance/Compliance Risk Gates

Consolidated 2,000 funding cases and 200 regulatory items into a standardized dataset covering more than 600 Greater China dental deals and 120 to 150 actionable regulatory events
The dataset became the backbone for systematic screening, thematic analysis, and follow-on financial modeling across the broader Greater China dental theme
Used the database to test whether orthodontics was large enough, structurally attractive, and manageable from a policy-risk perspective, supporting a dedicated subsector focus
Owned 4 public-data workstreams: funding flows, policy and regulation, industry structure, and competitive landscape across aligner brands, private chains, and dental digital and SaaS providers
Partnered with the VP and team to translate findings into a deduplicated longlist of more than 100 orthodontics-related targets across brands, services, equipment, and software
Ran a data pass mapping each target’s subsector tag, funding history, valuation range, and investor base, then assigned pass, watch, or exclude labels with concise risk notes
Reduced the universe to more than 10 candidates by screening against SAIF exclusion lists and conduct codes for regulatory, reputational, shareholder, and single-supplier red flags
Applied a governance-focused ESG gate anchored to MSCI ESG Key Issues, translating Corporate Governance and Corporate Behavior topics into 10 subcategories and 33 actionable checks
Drafted pass, conditional, and deny memos that guided diligence depth and valuation discussions, highlighting ownership and control complexity, related-party exposure, disclosure gaps, audit-quality concerns, and business-ethics risks
Presented governance and risk insights to partners via scenario-style memos, prompting 2 management meetings and additional auditor-tenure checks before advancing finalists to on-site due diligence
Representative example: flagged accounting and related-party issues in 2 finalists; recommendations became management Q&A and auditor-tenure checks, reshaping site-visit diligence and serving as a representative example of similar work across categories and contexts
Unified inputs from about 20 sources, including CVSource, industry news, and corporate registries; deduplicated rounds, standardized entities and subsector tags, and corrected errors in dates, rounds, and currencies

CITIC Securities

Location: Beijing, China
Position: Equity Research Intern
Dates: July 2021 – September 2021

ProjectEquity Research Analytics Enablement through Sector Databases, Valuation Stress-Testing & Trading-Color Synthesis

Supported equity and industry research at CITIC Securities by compiling sector datasets, stress-testing valuation assumptions, and summarizing trading color for internal investment-strategy discussions