NEW YORK, March 17, 2010

The China Fund, Inc. today announced its financial results for the first quarter ended January 31, 2010. 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.

On December 9, 2009, the Fund announced that it had declared an estimated annual dividend distribution to the Fund's stockholders, totaling $0.2086 per share. On December 22, 2009, the Fund confirmed an actual annual dividend distribution of $0.2557. The dividend distribution consisted of net investment income. The dividend distribution was paid on December 29, 2009, to the stockholders of record at the close of business on December 24, 2009. On January 31, 2010, the Fund's total net assets were $662,171,887 and its net asset value per share was $29.07 based on 22,781,762 shares outstanding. After taking into consideration the December distribution of $0.2557, the Fund's total return for the quarter ended January 31, 2010 was 7.98%.

For the quarter ended January 31, 2010, the Fund reported a net investment gain of approximately $164,072 versus a net investment loss of approximately $46,464 for the quarter ended January 31, 2009. Net realized and unrealized gains, for the three months ended January 31, 2010 were $47,366,127 or $2.08 per share compared to net realized and unrealized gains of $10,854,522 or $0.48 per share for the first quarter of fiscal year 2009.