The China Fund, Inc. Reports Third Quarter Results

NEW YORK, Sept. 15 /PRNewswire-FirstCall/ -- The China Fund, Inc. (NYSE: CHN) today announced its financial results for the third quarter ended July 31, 2009. The Fund is a closed-end management investment company seeking long-term capital appreciation primarily through investments in equity securities of companies engaged in a substantial amount of business in the People's Republic of China, including Hong Kong.

For the nine months ended July 31, 2009, the Fund reported a net investment income of approximately $1,773,112 versus a net investment income of approximately $5,625,225 for the nine months ended July 31, 2008. The net realized and unrealized gain for the nine months ended July 31, 2009 was $200,868,330 or $8.82 per share compared to net realized and unrealized loss of $223,541,785 or $12.31 per share for the nine months ended July 31, 2008.

The Fund's total net assets on July 31, 2009 were $565,300,812 and its net asset value per share was $24.81, based on 22,781,762 shares outstanding. After taking into consideration the net investment income dividend and capital gain distribution totaling $5.8174 per share paid on January 23, 2009, the Fund's total return for the nine months ended July 31, 2009 was 55.84%.

                          July 31, 2009    October 31, 2008  July 31, 2008
                          -------------    ----------------  -------------
    Total Net Assets       $565,300,812      $394,357,447     $618,937,146
    Net Asset Value           $24.81            $21.72           $34.09
    Shares Outstanding      22,781,762        18,153,741       18,153,741

The China Fund, Inc. is listed on the New York Stock Exchange under the ticker symbol "CHN". The Fund's investment manager is Martin Currie Inc.

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.

    CONTACT:

    Warren Antler
    The Altman Group
    212-400-2605
    wantler@altmangroup.com

SOURCE The China Fund, Inc.