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Press release from PR Newswire

The China Fund, Inc. Reports Third Quarter Results

Wednesday, September 12, 2012

The China Fund, Inc. Reports Third Quarter Results12:20 EDT Wednesday, September 12, 2012NEW YORK, Sept. 12, 2012 /PRNewswire/ -- The China Fund, Inc. (NYSE: CHN) today announced its financial results for the third quarter ended July 31, 2012. The Fund is a closed-end management investment company with the investment objective of long-term capital appreciation which it seeks to achieve by investing primarily in equity securities (i) of companies for which the principal securities trading market is the People's Republic of China ("China"), (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 and (iii) constituting direct equity investments in companies organized in China. For the nine months ended July 31, 2012, the Fund reported a net investment income of approximately $3,888,072 versus a net investment income of approximately $2,266,519 for the nine months ended July 31, 2011.  Net realized and unrealized losses for the nine months ended July 31, 2012 were -$56,369,498 or -$3.34 per share compared to net realized and unrealized gains of $26,463,231 or $1.16 per share for the nine months ended July 31, 2011.  The Fund's total net assets on July 31, 2012 were $403,266,268 and its net asset value per share was $23.92, based on 16,861,895 shares outstanding. After taking into consideration the distribution of $2.9964 per share paid on December 29, 2011, the Fund's total return for the nine months ended July 31, 2012 was -5.23%. July 31, 2012October 31, 2011July 31, 2011Total Net Assets$403,266,268$660,443,914$770,189,479Net Asset Value$23.92$28.99$33.81Shares Outstanding16,861,89522,781,76222,781,762The China Fund, Inc. is listed on the New York Stock Exchange under the ticker symbol "CHN".  The Fund's investment manager is RCM Asia Pacific Ltd.  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.