The China Fund, INC. announcement distribution results
NEW YORK, January 20, 2009

The China Fund, Inc. (NYSE: CHN) announces distributions of $5.8174 per share are payable on January 23, 2009. As previously reported, distributions are payable to stockholders of record on December 24, 2008 with an ex-dividend date of December 22, 2008. The distribution is comprised of long-term capital gains of $5.3361 per share and net investment income of $0.4813 per share.

The distributions will be paid in the Fund's common stock; however, stockholders had the option to request that their distributions be paid in cash in lieu of common stock. Requests for cash distributions had to be received by the Fund by January 15, 2009. The aggregate amount of cash distributions to all stockholders was limited to 30% of the aggregate dollar amount of the total distributions, that is, $31,682,271. Because cash distribution requests exceeded this limit, the Fund will pro rate the cash distribution among all stockholders who made such requests. Stockholders who requested cash distributions will receive 57.64% of their distributions in cash and will receive the balance in the Fund's common stock. The common stock to be distributed will be valued at $15.97 per share, which was the stock's closing price on the New York Stock Exchange on January 16, 2009.

Stockholders who have questions regarding the distribution may contact The Altman Group at 1 888 CHN CALL (246-2255). In addition, the Fund has posted on its website, www.chinafundinc.com, information regarding the distribution, including frequently asked questions.

The Fund is a closed-end management investment company seeking long-term capital appreciation primarily through investment in the equity securities of companies engaged in a substantial amount of business in the People's Republic of China.

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.