3/6/03

Bob Lowry, 334/844-9999

AU FINANCE EXPERT ASSISTING CHINA'S MOVE IN BANKING

AUBURN -- James R. Barth, the Lowder Eminent Scholar in Finance at Auburn University, is assisting the Peoples' Bank of China as China continues to move into the global financial market.

Barth spent two weeks in Bejing during December consulting with the Chinese on how to improve the bank's legal and regulatory environment within the government's financial sector .

"The broad goal of the project is to facilitate the future integration of the PRC (People's Republic of China) financial sector into the global financial market, and enhance the role of the PRC financial sector in supporting the transition to a market economy," says Barth.

Specifically, he says, the goals are to assist the bank in strengthening the legal and regulatory framework for the banking system, identify legislation that is in conflict with the development of the financial sector and to propose legislation that is consistent with the China's World Trade Organization commitments.

In addition to Barth, the project team is made up of legal and regulatory experts from Beijing, Hong Kong, Shanghai and Washington, D.C.

A final set of recommendations from the team is expected to be provided to the Chinese bank in September.

mar03:AU-china

CONTACT: Barth, 334/844-5343.