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The China Fund, Inc. Records First Quarter Results

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^{Published in Business and Finance on Friday, March 15th 2013 at 9:00 GMT by Market Wire}  

The China Fund, Inc. Records First Quarter Results -- NEW YORK, March 15, 2013 /PRNewswire/ --

NEW YORK, March 15, 2013 /PRNewswire/ -- The China Fund, Inc. (NYSE: [ CHN ]) today announced its financial results for the first quarter ended January 31, 2013.  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.

On December 10, 2012, the Fund announced that it had declared an estimated annual dividend and capital gain distribution to the Fund's stockholders, totaling $3.2517 per share.  The capital gain portion of the distribution was comprised of long-term capital gains estimated to be $2.9044 per share.  The net investment income portion of the distributions was estimated to be $0.3473 per share. On December 20, 2012, the Fund confirmed an actual annual dividend distribution of $3.2517 per share. The dividend distribution consisted of net investment income of $0.3473 per share and long-term capital gains of $2.9044 per share. The dividend distribution was paid on December 28, 2012 to the stockholders of record at the close of business on December 24, 2012.  On January 31, 2013, the Fund's total net assets were $376,554,030 and its net asset value per share was $23.63 based on 15,932,408 shares outstanding.  After taking into consideration the distribution of $3.2517, the Fund's total return for the quarter ended January 31, 2013 was 11.30%.

For the quarter ended January 31, 2013, the Fund recorded a net investment loss of approximately $308,052 versus a net investment loss of approximately $1,068,115 for the quarter ended January 31, 2012.  Net realized and unrealized gains, for the three months ended January 31, 2013 were $37,916,995 or $2.38 per share compared to net realized and unrealized losses of -$41,583,147 or -$1.83 per share for the first quarter of fiscal year 2012. 

The China Fund, Inc. is listed on the New York Stock Exchange under the ticker symbol "CHN". 

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 ].

SOURCE The China Fund, Inc.