THE CHINA FUND, INC. RECORDS FIRST QUARTER RESULTS

NEW YORK, March 19, 2017 /PRNewswire/ -- The China Fund, Inc. (NYSE: CHN) today announced its financial results for its first fiscal quarter ended January 31, 2017.  The Fund is a closed-end management investment company with the investment objective of long-term capital appreciation which it seeks to achieve by investing primarily in equity securities (i) of companies for which the principal securities trading market is the People's Republic of China ("China"), (ii) of companies for which the principal securities trading market is outside of China, or constituting direct equity investments in companies organized outside of China, that in both cases derive at least 50% of their revenues from goods and services sold or produced, or have at least 50% of their assets, in China and (iii) constituting direct equity investments in companies organized in China.

For the quarter ended January 31, 2017, the Fund recorded net investment loss from operations of $499,194 or $0.03 per share versus a net investment loss from operations of $726,395 or $0.05 per share for the quarter ended January 31, 2016. Net realized and unrealized gain on investments and foreign currency transactions, for the quarter ended January 31, 2017 was $2,841,402 or $0.18 per share compared to net realized and unrealized loss on investments and foreign currency transactions of $45,642,786 or $2.90 per share for the quarter ended January 31, 2016.

The Fund's total net assets on January 31, 2017 were $290,239,267 and its net asset value per share was $18.46 based on 15,722,675 shares outstanding. A distribution of $0.4678 per share from net investment income was made in December 2016.

The China Fund, Inc. is listed on the New York Stock Exchange under the ticker symbol "CHN".  The Fund's investment manager is Allianz Global Investors U.S. LLC.

For further information regarding the Fund and the Fund's holdings, please call (888)-CHN-CALL or visit the Fund's website at www.chinafundinc.com.

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SOURCE The China Fund, Inc.