The China Fund, Inc. Announces Liquidating Distributions

The Fund may distribute one or more smaller distributions in the future in the event it is not practicable or possible to distribute all of the Fund's assets in the primary liquidating distribution. The Fund's liquidation generally will be a taxable event for stockholders that are subject to U.S. federal income tax. Any stockholder that receives a distribution in a liquidation generally will realize capital gain or loss in an amount equal to the difference between the total amount of the liquidating distribution(s) received and the stockholder's adjusted basis in the Fund's shares. Please consult your personal tax advisor with regard to the specific tax consequences of the Fund's liquidation.

The Board thanks all stockholders for their support over the Fund's more than 40 years of operation and wishes all well for the future.

Investments involve risk including possible loss of principal, and an investment should be made with an understanding of the risks involved with owning a particular security or asset class. Interested parties are strongly encouraged to seek advice from qualified tax and financial experts regarding the best options for your particular circumstances.

Keep in mind, distribution rates are not guaranteed. The Fund's distribution rate may be affected by numerous factors, including changes in actual or projected investment income, the level of undistributed net investment income, if any, and other factors. Shareholders should not draw any conclusions about the Fund's investment performance based on the Fund's current distributions. The Fund is a closed-end management investment company the shares of which trade on the NYSE. Closed-end funds, unlike open-end funds, are not continuously offered. As such, once issued, shares of the Fund are bought and sold in the open market through the NYSE and may trade at prices lower than their net asset value. Net Asset Value ("NAV") is total assets less total liabilities divided by the number of shares outstanding. The Fund's investment manager is Matthews International Capital Management, LLC.

For further information regarding the Fund, please call (888)-CHN-CALL or visit the Fund's website at www.chinafundinc.com. The information contained on the Fund's website is not part of this press release. Copies of the Fund's complete audited financial statements are available free of charge upon request.

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SOURCE The China Fund, Inc.