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

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


NEW YORK, Dec. 10  /PRNewswire-FirstCall/ -- The China Fund, Inc. (NYSE: CHN),
today announced that it has declared an annual dividend and capital gain
distribution to the Fund's stockholders, totaling $3.5701 per share.  The total
dividend and capital gain distribution per share consists $0.1963 of net
investment income through December 31, 2004 and realized short-term and long
term capital gains of $0.1074 and $3.2664, respectively, through October 31,
2004.  The dividend and capital gain distribution will be payable on January 7,
2005, to the stockholders of record at the close of business on December 22,
2004.

Certain ordinary dividends paid by the Fund may be subject to a maximum tax
rate of 15% as provided for by the Internal Revenue Code.  The Fund intends to
designate up to the maximum amount of such dividends allowable. Complete
information will be reported to shareholders in conjunction with their 2004
Form 1099-Div which will be distributed during January, 2005.

The Fund has a Dividend Reinvestment and Cash Purchase Plan (the "Plan") that
is open to all shareholders.  If the Fund shares continue to trade at a premium
to its NAV, the dividend reinvestment provides you as a shareholder the ability
to invest in the Fund at an amount less than market price per share. If the
Fund is trading at a discount, Plan participants will receive shares of the
Fund valued at market price per share. All shareholders may elect to
participate in the Plan and may withdraw at any time within the limitations
described in the Plan.  If your shares are registered in a name other than your
own (for example, in a broker's or nominee's name), you should contact your
broker or nominee to arrange for participation.

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. 

DATASOURCE: The China Fund, Inc.



CONTACT: Belinda Hernandez of State Street Bank and Trust Company, +1-

617-662-3800

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