PR Newswire | Sep 10, 2021 04:18PM EDT

09/10 15:17 CDT

The China Fund, Inc. Records Third Quarter Results NEW YORK, Sept. 10, 2021

NEW YORK, Sept. 10, 2021 /PRNewswire/ -- The China Fund, Inc. (NYSE: CHN) today announced its financial results for its third fiscal quarter ended July 31, 2021. The Fund is a closed-end management investment company with the objective of seeking long-term capital appreciation by investing primarily in equity securities (i) of companies for which the principal securities trading market is in the People's Republic of China ("China"), or (ii) of companies for which the principal securities trading market is outside of China, or constituting direct equity investments in companies organized outside of China, that in both cases derive at least 50% of their revenues from goods and services sold or produced, or have at least 50% of their assets, in China. Whilst the Fund is permitted to invest in direct equity investments of companies organized in China, it presently holds no such investments.

Twelve Nine Months Months Ended Nine Months Ended July 31, Ended July 31, 2021 October 31, 2020 2020

Net Investment Income $1,076,354 $675,279 $1,130,724

Net Investment Income Per share $0.10 $0.06 $0.11

Net Realized and Unrealized Gains onInvestments and Foreign Currency $18,152,584 $104,894,256 $81,335,467Transactions

Nine Months Twelve Months Nine Months Ended July Ended October Ended July 31, 2021 31, 2020 31, 2020

Net Realized and Unrealized Gains onInvestments and Foreign Currency $1.74 $10.04 $7.77Transactions Per Share

Total Net Assets $323,747,776 $329,412,097 $306,900,128

Net Asset Value $31.06 $31.52 $29.30

Shares Outstanding 10,424,861 10,449,992 10,473,095

The Fund's total net assets on July 31, 2021 were $323,747,776 and its net asset value per share was $31.06 based on 10,424,861 shares outstanding. A combined distribution of $2.3123 per share from net investment income and realized gains was made in December 2020.

The China Fund, Inc. is listed on the New York Stock Exchange under the ticker symbol "CHN". The Fund's investment manager is Matthews International Capital Management, LLC.

For further information regarding the Fund and the Fund's holdings, please call (888)-CHN-CALL or visit the Fund's website at www.chinafundinc.com.

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SOURCE The China Fund, Inc.