The China Fund, Inc. Announces Reduced Management Fee Due to Adviser's Fee Waiver

BOSTON, March 4, 2024 /PRNewswire/ -- The Board of Directors (the "Board") of The China Fund, Inc. (NYSE: CHN) (the "Fund"), is pleased to announce that the Fund's investment adviser, Matthews International Capital Management, LLC (the "Adviser"), has agreed to waive a portion of the management fee paid to it by the Fund, which will reduce the Fund's total expense ratio and the indirect cost to shareholders of investing in the Fund. In light of current economic and market conditions affecting the performance of Chinese securities generally, the Board and the Adviser believe it is appropriate and in the best interest of the Fund and its shareholders to consider all available measures to reduce the expenses of the Fund. After reviewing the Fund's operating expenses and investment performance, the Board requested that the Adviser consider reducing its management fee. The Adviser has since agreed to voluntarily waive for a year from February 1, 2024, a portion of the management fee it receives from the Fund by reducing the management fee rate applied when the Fund's monthly average assets are less than $150 million from 0.80% to 0.75%. Thereafter, the fee waiver will terminate without further notice, unless the Adviser, in its sole discretion, agrees to continue the waiver.

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