The China Fund, Inc. Reports Third Quarter Results

The China Fund, Inc. Reports Third Quarter Results 


NEW YORK, Sept. 15  /PRNewswire-FirstCall/ -- The China Fund, Inc. (NYSE: CHN)
today announced its financial results for the third quarter ended July 31,
2004.  The Fund is a closed-end management investment company seeking long-term
capital appreciation primarily through investments in equity securities of
China companies.

For the nine months ended July 31, 2004, the Fund reported net investment
income of approximately $1,556,520 or $0.15 per share versus net investment
income of approximately $1,048,906 or $0.10 per share for the nine months ended
July 31, 2003. Net realized and unrealized gains for the nine months ended July
31, 2004, were $98,404,461 or $9.76 per share compared to net realized and
unrealized gain of $95,155,059 or $9.45 per share for the nine months ended
July 31, 2003.

The Fund's total net assets on July 31, 2004 were $247,314,661 and its net
asset value per share was $24.53 based on 10,081,913 shares outstanding.  This
represents a (4.65%) decrease in the Fund's net asset value of $26.93 on
October 31, 2003 after taking into consideration the net investment income
dividend and capital gain distribution totaling $1.78 per share paid on January
15, 2004.  The Fund's total net assets on October 31, 2003 were $271,278,220.

                            July 31, 2004 October 31, 2003 July 31, 2003
  Total Net Assets           $247,314,661    $271,278,220  $241,676,528
  Net Asset Value                  $24.53          $26.93        $23.99
  Shares Outstanding           10,081,913      10,073,173    10,073,173



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.  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, or visit the Fund's website at http://www.chinafundinc.com/. 

DATASOURCE: The China Fund, Inc.



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



Web site:  http://www.chinafundinc.com/ 

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