The China Fund, Inc. Declares Dividend and Capital Gain Distribution

The China Fund, Inc. Declares Dividend and Capital Gain Distribution 


NEW YORK, Dec. 19  /PRNewswire-FirstCall/ -- The China Fund, Inc. , today
announced that it has declared an annual dividend and capital gain distribution
to the Fund's stockholders, totaling $1.78 per share.  The total dividend and
capital gain distribution per share consists $0.07 of net investment income
through December 31, 2003 and realized short-term and long term capital gains of
$1.04 and $0.67, respectively, through October 31, 2003. The dividend and
capital gain distribution will be payable on January 15, 2004, to the
stockholders of record at the close of business on December 31, 2003.

Certain ordinary dividends paid by the Fund may be subject to a maximum tax rate
of 15% as provided for by the Jobs and Growth Tax Relief Reconciliation Act of
2003 ("the Act").  The Fund intends to designate up to the maximum amount of
such dividends allowable under the Act.  Complete information will be reported
to shareholders in conjunction with their 2003 Form 1099-Div which will be
distributed during January, 2004.

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 traded on the New York Stock Exchange with the ticker
symbol "CHN".  The Fund's investment manager is Martin Currie Inc.  The Fund's
direct investment manager is Asian Direct Capital Management.

For further information regarding the Fund and the Fund's holdings, please call
(888)-CHN-CALL.

  CONTACT:
   Belinda Hernandez
   State Street Corporation
   617-662-3800


DATASOURCE: The China Fund, Inc.



CONTACT: Belinda Hernandez of State Street Corporation, [phone]

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