<SEC-DOCUMENT>0001193125-19-190381.txt : 20190708
<SEC-HEADER>0001193125-19-190381.hdr.sgml : 20190708
<ACCEPTANCE-DATETIME>20190708140704
ACCESSION NUMBER:		0001193125-19-190381
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20190430
FILED AS OF DATE:		20190708
DATE AS OF CHANGE:		20190708
EFFECTIVENESS DATE:		20190708

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHINA FUND INC
		CENTRAL INDEX KEY:			0000845379
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05749
		FILM NUMBER:		19945001

	BUSINESS ADDRESS:	
		STREET 1:		ONE LINCOLN STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02111
		BUSINESS PHONE:		6176622789

	MAIL ADDRESS:	
		STREET 1:		ONE LINCOLN STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02111
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>d718248dncsrs.htm
<DESCRIPTION>CHINA FUND
<TEXT>
<HTML><HEAD>
<TITLE>China Fund</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">N-CSR</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CERTIFIED
SHAREHOLDER REPORT OF REGISTERED </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>MANAGEMENT INVESTMENT COMPANIES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Investment Company Act file number: <FONT STYLE="white-space:nowrap">811-05749</FONT> </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>THE CHINA FUND, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>C/O BROWN
BROTHERS HARRIMAN &amp; CO. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>50 POST OFFICE SQ. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BOSTON, MA 02110 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ATTENTION SUZAN BARRON </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices)(Zip code) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Copy to:
</I></B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Suzan Barron</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Brown Brothers Harriman &amp; Co.</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>50 Post Office Sq.</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Boston, MA 02110</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Laura E. Flores, Esq.</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Morgan, Lewis&nbsp;&amp; Bockius LLP</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>1111 Pennsylvania Avenue, NW</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington, DC 20004-2541</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-size:8pt"><B>(Name and Address of Agent for Service)</B></FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (888) <FONT STYLE="white-space:nowrap">246-2255</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Date of fiscal year end: October&nbsp;31 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Date of reporting period: April&nbsp;30, 2019 </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;1. Report to Stockholders. </U></B></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="50%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">

<TR>
<TD WIDTH="100%"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" NOWRAP STYLE="BORDER:1px solid #873940; padding-left:8px; padding-right:8px"> <P STYLE="font-size:24px;margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="5"><B>THE CHINA FUND, INC.</B></FONT></P> <P STYLE="font-size:28px;margin-top:0px;margin-bottom:1px" align="left"><FONT SIZE="1">&nbsp;</FONT></P></TD></TR></TABLE>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>SEMI-ANNUAL REPORT </B></FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>April 30, 2019 (unaudited)
</B></FONT></P><DIV STYLE="position:relative;float:left; width:54%;padding-right:0%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Beginning on June&nbsp;1, 2021, as permitted by regulations adopted by the Securities and Exchange
Commission, paper copies of the Fund&#146;s annual and semi-annual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, the reports will be made available on The China Fund,
Inc&#146;s (the &#147;Fund&#148;) website (<U>www.chinafundinc.com</U>), and you will be notified by mail each time a report is posted and provided with a website link to access the report. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other
communications from the Fund electronically anytime by contacting your financial intermediary or if you are a direct investor, by calling
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-426-5523.</FONT></FONT></FONT> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">You
may elect to receive all future reports in paper free of charge. If you invest through a financial intermediary, you can contact your financial intermediary to request that you continue to receive paper copies of your shareholder reports. Your
election to receive reports in paper will apply to all funds that you hold through your financial intermediary. If you invest directly with the Fund, you can call <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">1-800-426-5523</FONT></FONT></FONT> to let the Fund know you wish to continue receiving paper copies of your shareholder reports.
</FONT></P></DIV><DIV STYLE="position:relative;float:left; margin-left:3%; width:43%;padding-right:0%;padding-bottom:8pt;overflow:hidden;padding-top:3pt">
 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="90%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="69%"></TD>
<TD VALIGN="bottom" WIDTH="21%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000; padding-left:8px"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>The China Fund, Inc.</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom" STYLE="BORDER-TOP:1px solid #000000">&nbsp;<FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-RIGHT:1px solid #000000; padding-right:8px"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8px"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B><A NAME="toc"></A>Table of Contents</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-RIGHT:1px solid #000000; padding-right:8px"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8px">&nbsp;<FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="right" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Page</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-RIGHT:1px solid #000000; padding-right:8px"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#cov718248_1">Key Highlights</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#cov718248_2">Asset Allocation</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#cov718248_3">Industry Allocation</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#cov718248_4">Chairman&#146;s Statement</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#cov718248_5">Investment Manager&#146;s
Statement</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#cov718248_6">About the Portfolio Manager</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#cov718248_7">Schedule of Investments</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#cov718248_8">Financial Statements</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">14</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#cov718248_9">Notes to Financial Statements</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">18</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#cov718248_10">Other Information</A></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">26</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; padding-right:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-left:8px"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#cov718248_11">Dividends and Distributions:
 Summary of Dividend Reinvestment and&nbsp;Cash Purchase Plan</A></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">30</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-RIGHT:1px solid #000000; BORDER-BOTTOM:1px solid #000000; padding-right:8px"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
</TABLE></DIV> </div><div style="clear:both; height:0px; font-size:0px">&nbsp;</div>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B><A NAME="cov718248_1"></A>THE CHINA FUND, INC. </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>KEY HIGHLIGHTS (unaudited) </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="49%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" BGCOLOR="#873940"><FONT STYLE="font-family:Times New Roman" SIZE="2" COLOR="#FFFFFF"><B>FUND DATA</B></FONT></TD></TR>


<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>NYSE Stock Symbol</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>CHN</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Listing Date</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>July&nbsp;10, 1992</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Shares Outstanding</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>10,811,990</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total Net Assets (04/30/19)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>$255,472,782</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Net Asset Value Per Share (04/30/19)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>$23.63</B></FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Market Price Per Share (04/30/19)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>$21.18</B></FONT></TD></TR>
</TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD VALIGN="bottom" WIDTH="29%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" COLSPAN="8" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" BGCOLOR="#873940"><FONT STYLE="font-family:Times New Roman" SIZE="2" COLOR="#FFFFFF"><B>TOTAL RETURN<FONT
STYLE="font-family:Times New Roman" SIZE="1" COLOR="#ffffff"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(1)</SUP></FONT></B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" BGCOLOR="#873940"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Performance as of<BR>04/30/19:</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Net Asset Value</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Market Price</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="white-space:nowrap">1-Year</FONT>
Cumulative</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.25%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.70%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="white-space:nowrap">3-Year</FONT>
Cumulative</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">53.89%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">58.52%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="white-space:nowrap">3-Year</FONT>
Annualized</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15.45%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16.60%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="white-space:nowrap">5-Year</FONT>
Cumulative</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">51.46%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">53.39%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="white-space:nowrap">5-Year</FONT>
Annualized</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.66%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.93%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="white-space:nowrap">10-Year</FONT>
Cumulative</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">194.97%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">187.46%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="white-space:nowrap">10-Year</FONT>
Annualized</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(2)</SUP></FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.42%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11.14%</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" COLSPAN="8" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" BGCOLOR="#873940"><FONT STYLE="font-family:Times New Roman" SIZE="2" COLOR="#FFFFFF"><B>DIVIDEND HISTORY</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000" BGCOLOR="#873940"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Record Date</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Income</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Capital Gains</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12/21/18</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$0.1689</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$0.3712</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12/19/17</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$0.5493</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12/19/16</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$0.4678</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12/28/15</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$0.2133</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$1.2825</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12/22/14</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$0.2982</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$3.4669</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12/23/13</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$0.4387</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$2.8753</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12/24/12</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$0.3473</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$2.9044</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12/23/11</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$0.1742</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$2.8222</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12/24/10</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$0.3746</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$1.8996</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:1.00em; text-indent:-1.00em" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12/24/09</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$0.2557</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:4px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1) Total investment returns reflect changes in net asset value or market price, as the case may be, during each period
and assumes that dividends and capital gains distributions, if any, were reinvested in accordance with the dividend reinvestment plan. The net asset value returns are not an indication of the performance of a stockholder&#146;s investment in the
Fund, which is based on market price. Total investment returns do not reflect the deduction of taxes that a stockholder would pay on Fund distributions or the sale of Fund shares. Total investment returns are historical and do not guarantee future
results. Market price returns do not reflect broker commissions in connection with the purchase or sale of Fund shares. </FONT></P> <P STYLE="margin-top:4px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2) The performance
has been restated to reflect an adjustment to the dividend reinvestment price applied in 2016, which had the effect of modestly understating performance for the period. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B><A NAME="cov718248_2"></A>THE CHINA FUND, INC. </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>ASSET ALLOCATION AS OF April&nbsp;30, 2019 (unaudited) </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="73%"></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Ten Largest Listed Equity Investments *</B></FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:2.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="3">AlibabaGroup Holding, Ltd.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="3">11.5%</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:2.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="3">TencentHoldings, Ltd.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="3">9.7%</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:2.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="3">Ping&#8202;An Insurance Group Company of China, Ltd.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="3">6.9%</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:2.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="3">ChinaConstruction Bank Corp.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="3">4.0%</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:2.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="3">Industrial&amp; Commercial Bank of China, Ltd.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="3">4.0%</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:2.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="3">AgriculturalBank of China, Ltd.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="3">3.9%</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:2.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="3">New&#8202;China Life Insurance Co., Ltd.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="3">3.9%</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:2.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="3">AIA&#8201;Group, Ltd.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="3">3.1%</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:2.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="3">WuliangyeYibin Co., Ltd.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="3">2.5%</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000"> <P STYLE="margin-left:2.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="3">KweichowMoutai Co., Ltd.</FONT></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="3">2.4%</FONT></TD></TR>
</TABLE> <P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">*</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE="" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Percentages based on net assets. </FONT></P></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<div style ="background-color:#873940; max-width:100%">
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4" COLOR="#FFFFFF"><B><A NAME="cov718248_3"></A>INDUSTRY ALLOCATION (unaudited) </B></FONT></P>
</div>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="line-height:1px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<div style ="BORDER-BOTTOM:1pt solid #000000;BORDER-LEFT:1pt solid #000000;BORDER-RIGHT:1pt solid #000000;BORDER-TOP:1pt solid #000000;MARGIN-LEFT:0px; MARGIN-RIGHT:0px;max-width:100%">
 <P STYLE="margin-top:0px;margin-bottom:0px; text-indent:5%"><FONT STYLE="font-family:ARIAL" SIZE="3"><B>Industry Allocation (as a percentage of net assets) </B></FONT></P>
<P STYLE="font-size:42px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center">


<IMG SRC="g718248g96o26.jpg" ALT="LOGO">
 </P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
</div><br clear="All">
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fund holdings are subject to change and percentages shown above are based on net assets at
April&nbsp;30, 2019. A complete list of holdings at April&nbsp;30, 2019 is contained in the Schedule of Investments included in this report. The most current available data regarding portfolio holdings can be found on our website,
<U>www.chinafundinc.com.</U> You may also obtain holdings by calling <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-888-246-2255.</FONT></FONT></FONT> </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B><A NAME="cov718248_4"></A>THE CHINA FUND, INC. </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>CHAIRMAN&#146;S STATEMENT (unaudited) </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dear Fellow Stockholders, </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">It gives me pleasure to provide you both the Interim Report for The China Fund, Inc. (the &#147;Fund&#148;), covering the first half of the Fund&#146;s
year from November&nbsp;1, 2018 to April&nbsp;30, 2019, and a recent update on its affairs. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Introduction to a Sea Change </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">At the time of the long-delayed 2018 annual general meeting in May last year, stockholders supported the election of Rich Silver and myself to the
Fund&#146;s Board of Directors (the &#147;Board&#148;). Between us we bring approximately 90&nbsp;years&#146; experience in the financial services industry both in the US and worldwide, and we very much appreciate the confidence of those supporters
in our ability to so help steward the Fund. We are both &#145;builders of businesses&#146; and not as the previous Board&#146;s repetitive rhetoric would have suggested &#145;fund busters&#146;. The past twelve months presented a number of
challenges for both the Fund and its new directors. I&#146;m proud to report, however, that we have not only overcome each challenge, but we have succeeded in better positioning the Fund to seek to achieve greater success in the future. Suffice to
say that despite the continual, totally unfounded suggestions to stockholders in historic documents from the old Board that we, as the nominated directors, had no future plans for your Fund, that the continued retention of the former investment
manager was in the best interests of the Fund and that our appointment would lead to its liquidation, we beg to differ and hope that the information provided herein will prove such rhetoric as mere fiction. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">I and the other Directors believe that we have set a new and more productive course for the Fund. A sea change has taken place with the implementation of
enhanced investment management techniques and the introduction of best practices of corporate governance. Details of the numerous changes that we have instigated over the past year are alluded to herein, but firstly let me outline the primary issue
of interest to stockholders, namely recent investment performance. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Investment Performance </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">As has been reported previously, following an extensive review of a short list of investment managers with a capability in the China
space, Matthews International Capital Management, LLC (&#147;Matthews Asia&#148;) was appointed as the investment manager of your Fund effective January 1</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">st</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> of this year. Matthews Asia, based on the west coast, has a strong capability in both investment research and
management within the mainland China market. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">In the four-month period ended April&nbsp;30, 2019, covering the initial period of Matthews
Asia&#146;s management, China markets performed well as much due to a reversal in the previous negative sentiment related to the brewing trade conflict between China and the US and some positive easing by the monetary authorities in Beijing. As in
any review of historic investment returns, it is imperative to stress that any returns so achieved are historical and in no way can or should guarantee future results. That said and realising that Matthews Asia&#146;s term as manager has only just
commenced, the investment results achieved have been encouraging providing alpha over and above both your Fund&#146;s present and previous benchmarks. In this four-month period ended April&nbsp;30, 2019, your Fund&#146;s net asset value
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>THE CHINA FUND, INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="4"><B>CHAIRMAN&#146;S STATEMENT (continued) (unaudited) </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">(&#147;NAV&#148;) rose 26.16% and the share price rose 25.4% outperforming the Fund&#146;s new benchmark, the MSCI China All Share Index, which gained 24.07% and its previous benchmark, the MSCI Golden
Dragon, which gained 18.12%. The report of Matthews Asia follows. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Enhanced Web Site&nbsp;&amp; Investor Relations </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">May I draw your attention to the Fund&#146;s much enhanced website (<U>www.chinafundinc.com</U>) that not only includes relevant information with regard
to all aspects of your Fund, but also includes most interesting, selected pieces from Matthews Asia&#146;s research on the China area. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">As a
means of further improving investor relations, given the recent appointment of a new investment manager with its own unique ways of managing money in the China space, we have arranged for Matthews Asia to provide investors with more frequent updates
of its management of the Fund and the market during this initial year of its appointment. Whilst we fully understand that such conference calls are less personal than
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">one-on-one</FONT></FONT> meetings they will, we believe, achieve the objective of updating all stockholders with the manager&#146;s actions in a more timely manner and simultaneously
eliminate selective disclosure concerns. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">For your diary future calls are scheduled for Wednesday, September&nbsp;4, 2019, Monday,
December&nbsp;9, 2019 and Wednesday, February&nbsp;26, 2020. The announcements of, and dial in details for, these calls will be posted on the Fund&#146;s web site in due course. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Discount Management </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">As previously announced the Board instigated in <FONT
STYLE="white-space:nowrap">mid-February</FONT> a discount management program that is intended to help manage your Fund&#146;s share price relative to its NAV. Since its commencement almost 200,000 shares have been repurchased and the share price
discount to NAV traded between 9.56% and 12.03% and closed the Period at 10.37% while remaining above your Board&#146;s single digit optimum target level, the discount has remained constantly better than the peer group of alternative funds used by
the Board for comparative purposes. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Best Practices of Corporate Governance </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Your new Board has adopted a differing understanding towards best practices of corporate governance leading it to concentrate on a significant number of perceived shortcomings that it has sought to
address at the very earliest. Perhaps the most significant issue related to Fund expenses which, whilst progress to amend was slow, we have now finalised and have set out in a series of press releases and on which I agreed to expand in this
correspondence. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2">We have engaged in considerable research and work, particularly Director Coughlin, aimed at containing
such costs and which have culminated in the Board&#146;s transfer of responsibilities with regard to custody, accounting, administration and support relating to securities lending to Brown Brothers Harriman&nbsp;&amp; Co. effective on or about
July&nbsp;1</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">st</SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">, as was announced in a release dated
April&nbsp;24, 2019. When determining whether to pursue the transfer of </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>THE CHINA FUND, INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="4"><B>CHAIRMAN&#146;S STATEMENT (continued) (unaudited) </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">responsibilities, the Board considered the effect of the proposed cost reduction on a period of Fund operations. Specifically, using historic trading numbers over the actual three-month trading period
ended December&nbsp;31, 2018, the Board calculated a savings of approximately $60,000 in each of the three months. Whilst this saving&#146;s estimate is based on the specific trading numbers of that three-month period, and recognizing that such
expenses are dependent on a number of variables &#151; most particularly stock turnover, we estimate that savings approximating or exceeding $700,000 per year may be achievable from the change in custody, accounting and administration services
combined. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">We believe the past Board size and its expenses were excessive given the size of the Fund. We, therefore, acted promptly to reduce
the size of the Board from seven to three Directors. We believe the reduced number is appropriate given the <FONT STYLE="white-space:nowrap">dollar-size</FONT> of the Fund and the significant level of experience of the newly appointed Directors. I
am pleased to report that the three-person Board is working well. Further, we intend to significantly reduce travel-related expenses, in part, by eliminating unnecessary trips to Asia and through greater use of technology enabled communications.
</FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Legal fees have been agreed on the basis of an annual contract price for recurrent business and once the present modus operandi is fully
established we will work to limit additional, extraordinary expenses to the very minimum. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Thus, based on a full, operational fiscal year with
the newly agreed basis of fees in place over the entire period, your Board forecasts achieving an annual, net savings in fund expenses from those services as specifically renegotiated in the service providers review &#151; namely across audit,
administration, compliance, custody, directors, insurance, miscellaneous, printing, secretarial, shareholder services and stock exchange fees, of approximately US$2.8&nbsp;million relative to the level of expenses in 2018 &#151; the year set as the
comparator by the former Chairman in a previous release. To be frank, the 2018 expenses were seriously inflated by unnecessary and excessive legal and proxy-related expenses as the then Board fought the competing proxy to both appoint new Directors
and to change the investment manager. Thus, perhaps a more realistic expenses comparison might be with fiscal year 2017 which, even then, would represent a net savings for a year of US$1.3&nbsp;million and which your Board believes still represents
a very significant figure. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">On behalf of the Directors may I conclude by thanking you for your recent support and please feel free to make
contact at any time with ideas you may have for your Fund. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Yours very sincerely, </FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px">


<IMG SRC="g718248g48n11.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Julian Reid </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chairman </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B><A NAME="cov718248_5"></A>THE CHINA FUND, INC. </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>INVESTMENT MANAGER&#146;S STATEMENT (unaudited) </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3" COLOR="#873940"><B>Market Environment </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">During the six months ended April&nbsp;30, 2019, Chinese equities experienced a sharp drop and rebound. Looking back to November 2018, Chinese equities
posted good results as investors focused and speculated on the <FONT STYLE="white-space:nowrap">G-20</FONT> meetings and the prospect that President Trump and President Xi could come to a resolution on trade. In December 2018, however, China
underperformed broad emerging markets amid volatility in the U.S. and Japan that led global equities lower for the month. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">In a sharp reversal,
in January 2019, Chinese equities posted some of the strongest performance in the region as local sentiment improved and recent negative economic results stabilized. Chinese business sentiment improved as the government allowed credit to expand and
data showed signs that the manufacturing base was holding steady. From February through April, Chinese equities posted gains, as some macro issues seemed to recede and investor sentiment improved. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Other positive news included headlines around index provider MSCI&#146;s expansion of <FONT STYLE="white-space:nowrap">A-shares</FONT> within its global
indices. Valuations remained attractive and some investors began to buy again. We continue to monitor the progress of trade talks, which remains unsettled. Trade conflicts can affect near-term investor sentiment, but have little long-term impact on
the types of domestic economy-driven businesses we tend to own. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3" COLOR="#873940"><B>Performance </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Fund changed investment managers on January&nbsp;1, 2019 and also changed its benchmark from the MSCI Golden Dragon Index to the MSCI China <FONT
STYLE="white-space:nowrap">All-Shares</FONT> Index. For the six months ended April 2019, the Fund outperformed both benchmarks. In this section, we discuss the performance during the reporting period that falls under the guidance of the new manager,
Matthews Asia. For the period from January&nbsp;1, 2019 to April&nbsp;30, 2019, the Fund returned 26.65%, outperforming the MSCI China <FONT STYLE="white-space:nowrap">All-Shares</FONT> Index, which returned 24.07%. From a sector perspective,
contributors included communication services, consumer staples and industrials. Detractors included information technology and financials. Additional information about the Fund&#146;s performance, including for periods prior to January&nbsp;1, 2019,
can be found on the Fund&#146;s website. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">From a stock perspective, a contributor to performance was insurance provider New China Life
Insurance Co. Ltd., which benefited from rising rates of insurance adoption in China. As affluence levels continue to rise in China, there is increasing demand for protection-type insurance products, such as riders that protect family wealth in the
event of the death of a spouse or the loss of a home. We increasingly see a shift away from consumers using insurance as purely investment-spread vehicles. These trends benefit insurance companies in general because protection-based insurance
products tend to have inherently higher margins than policies designed as investment-spread products. We believe New China Life Insurance Co. is an <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">up-and-coming</FONT></FONT> player
in this space, with the potential to gain market share while benefiting from the positive trends above. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">A detractor was <FONT
STYLE="white-space:nowrap">Shangri-La</FONT> Asia (no longer held), an operator of five-star hotels in China. Amid an unsettled near-term economic outlook, market participants worried about occupancy rates for luxury hotels, sending <FONT
STYLE="white-space:nowrap">Shangri-La</FONT> </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>THE CHINA FUND, INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="4"><B>INVESTMENT MANAGER&#146;S STATEMENT (continued) (unaudited) </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Asia&#146;s stock price downward during the reporting period. International chains, such as Marriott, Hilton and Hyatt are also expanding aggressively in China, adding to negative sentiment toward the
stock. However, we believe growth in the travel industry is a long-term, secular growth trend and there may be room for both regional and international players. We continue to monitor developments in the travel and leisure sector, with an eye toward
selecting the most compelling opportunities from the bottom up. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3" COLOR="#873940"><B>Outlook </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Trade talks between the U.S. and China remain unsettled, but we believe it is in the best interest of both countries to eventually reach a deal. Daily
headlines around trade talks tend to have a major impact on sentiment. We expect volatility to continue until a trade deal is reached. The good news is that the services portion of China&#146;s economy has grown larger than its manufacturing portion
every year for the past seven years, leaving the economy less impacted by exports. The long-term growth story in China continues to center around how well China can manage its domestic economy. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">On the domestic front, Chinese policymakers seem to be making reasonable decisions around various market reforms, as well as in their modest, incremental
use of stimulus. Policy initiatives such as the government&#146;s anti-corruption drive, state-owned enterprise reform, supply-side reform and a shift in financing to sectors with lower capital expenditures are all positive signs for the economy.
Overall, we continue to position our portfolio according to our long-term beliefs that China&#146;s domestic economy remains healthy, and that there are secular growth opportunities in both China&#146;s new and old economy sectors that stand to
benefit from the rising levels of affluence among domestic consumers. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">8 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B><A NAME="cov718248_6"></A>THE CHINA FUND, INC. </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>ABOUT THE PORTFOLIO MANAGER (unaudited) </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Matthews Asia, the largest dedicated Asia investment specialist in the United
States, is an independent, privately owned firm with a focus on long-term investment performance. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Andrew Mattock serves as the portfolio
manager for the Fund&#146;s portfolio of listed securities. Prior to joining Matthews Asia in 2015, he was a Fund Manager at Henderson Global Investors for 15 years, first in London and then in Singapore, managing Asia Pacific equities. Andrew holds
a Bachelor of Business majoring in Accounting from ACU. He began his career at PricewaterhouseCoopers and qualified as a Chartered Accountant. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">9 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B><A NAME="cov718248_7"></A>THE CHINA FUND, INC. </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>SCHEDULE OF INVESTMENTS </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>April 30,
2019 (unaudited) </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="72%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000 ; display:table-cell;"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Name of Issuer and Title of Issue</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"> <P STYLE="border-bottom:1px solid #000000 ; display:table-cell;" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Shares</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Value&nbsp;(Note&nbsp;A)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="13"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>COMMON STOCK</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>CHINA &#151; &#147;A&#148; SHARES</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Beverages &#151; 4.9%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Kweichow Moutai Co., Ltd. &#151; A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">41,478</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,996,849</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Wuliangye Yibin Co., Ltd. &#151; A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">427,261</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,491,871</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD COLSPAN="8" VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">12,488,720</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD COLSPAN="8" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Chemicals &#151; 1.0%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Wanhua Chemical Group Co., Ltd. &#151; A</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">*</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">374,443</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,513,962</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Commercial Banks &#151; 1.5%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ping An Bank Co., Ltd. &#151; A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,838,483</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,779,686</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Construction Materials &#151; 1.8%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Anhui Conch Cement Co., Ltd. &#151; A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">701,371</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,159,211</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">China Jushi Co., Ltd. &#151; A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">298,222</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">482,517</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD COLSPAN="8" VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,641,728</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD COLSPAN="8" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Electronic Equipment&nbsp;&amp; Instruments &#151; 2.0%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">AVIC Jonhon OptronicTechnology Co., Ltd. &#151; A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">419,609</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,591,102</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Luxshare Precision Industry Co., Ltd. &#151; A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">673,100</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,606,754</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD COLSPAN="8" VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,197,856</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD COLSPAN="8" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Food Products &#151; 2.0%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Inner Mongolia Yili Industrial Group Co., Ltd. &#151; A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,119,554</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,151,730</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Health Care Equipment&nbsp;&amp; Supplies &#151; 1.0%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Lepu Medical Technology Beijing Co., Ltd. &#151; A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">628,900</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,486,922</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Hotels, Restaurants&nbsp;&amp; Leisure &#151; 1.5%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">China International Travel Service Corp., Ltd. &#151; A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">333,197</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,832,596</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Household Durables &#151; 2.2%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Midea Group Co., Ltd. &#151; A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">725,229</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,640,957</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Insurance &#151; 6.9%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ping An Insurance Group Company of China, Ltd. &#151; A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,381,928</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">17,661,798</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Media &#151; 0.9%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Focus Media Information Technology Co., Ltd. &#151; A</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,389,400</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,163,540</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:4.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TOTAL CHINA &#151; &#147;A&#148; SHARES</B> &#151; (Cost $48,101,497)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">25.7</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">65,559,495</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="13"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>HONG KONG</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Automobiles &#151; 1.7%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Brilliance China Automotive Holdings, Ltd.</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,010,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,411,368</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR></TABLE> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">See
notes to financial statements. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">10 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>THE CHINA FUND, INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="4"><B>SCHEDULE OF INVESTMENTS (continued) </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>April 30, 2019 (unaudited) </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="74%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000 ; display:table-cell;"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Name of Issuer and Title of Issue</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"> <P STYLE="border-bottom:1px solid #000000 ; display:table-cell;" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Shares</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Value&nbsp;(Note&nbsp;A)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="13"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>COMMON STOCK (continued)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="13"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>HONG KONG (continued)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Diversified Financial Services &#151; 1.9%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Hong Kong Exchanges and Clearing, Ltd.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">140,300</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">
&#036;
</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,864,573</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Electronic Equipment&nbsp;&amp; Instruments &#151; 1.0%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Kingboard Holdings, Ltd.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">738,500</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,405,246</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Entertainment &#151; 1.8%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">iQIYI, Inc. ADR</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">*(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">45,500</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,006,005</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Tencent Music Entertainment Group ADR</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">*(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">200,200</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,443,440</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD COLSPAN="4" VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,449,445</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Health Care Technology &#151; 0.8%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ping An Healthcare and Technology Co., Ltd. 144A</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">*(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">427,600</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,093,086</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Hotels, Restaurants&nbsp;&amp; Leisure &#151; 1.5%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Galaxy Entertainment Group, Ltd.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">521,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,895,147</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Insurance &#151; 3.1%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">AIA Group, Ltd.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">763,600</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">7,782,202</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Interactive Media&nbsp;&amp; Services &#151; 14.9%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">58.com, Inc. ADR</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">*</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">58,600</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,206,894</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Momo, Inc. ADR</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">65,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,279,550</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sina Corp.</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">*</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">46,500</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,926,710</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Tencent Holdings, Ltd.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">502,200</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">24,838,568</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">YY, Inc. ADR</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">*</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">44,600</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,773,606</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD COLSPAN="4" VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">38,025,328</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Internet and Direct Marketing Retail &#151; 14.0%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Alibaba Group Holding, Ltd. ADR</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">*(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">157,601</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">29,246,018</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ctrip.com International, Ltd. ADR</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">*</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">89,800</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,955,690</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">JD.com, Inc. ADR</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">*(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">86,900</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,630,463</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD COLSPAN="4" VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">35,832,171</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>IT Services &#151; 1.3%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chinasoft International, Ltd.</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">*(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,880,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,350,449</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Pharmaceuticals &#151; 1.7%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sino Biopharmaceutical, Ltd.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,599,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,420,311</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Professional Services &#151; 1.0%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">51job, Inc. ADR</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">*</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">28,100</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,594,754</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Real Estate Management&nbsp;&amp; Development &#151; 6.4%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">China Overseas Property Holdings, Ltd.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,040,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,383,541</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR></TABLE> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">See notes to financial statements. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">11 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>THE CHINA FUND, INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="4"><B>SCHEDULE OF INVESTMENTS (continued) </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>April 30, 2019 (unaudited) </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="71%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000 ; display:table-cell;"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Name of Issuer and Title of Issue</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"> <P STYLE="border-bottom:1px solid #000000 ; display:table-cell;" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Shares</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Value&nbsp;(Note&nbsp;A)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="13"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>COMMON STOCK (continued)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="13"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>HONG KONG (continued)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Real Estate Management&nbsp;&amp; Development (continued) 6.4%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">China Resources Land, Ltd.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,170,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">
&#036;
</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,093,246</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">CIFI Holdings Group Co., Ltd.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,706,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,453,684</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Times China Holdings, Ltd.</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,445,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,444,435</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD COLSPAN="8" VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16,374,906</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD COLSPAN="8" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Semiconductors&nbsp;&amp; Semiconductor Equipment &#151; 0.2%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">ASM Pacific Technology, Ltd.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">43,900</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">508,402</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Specialty Retail &#151; 1.5%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Zhongsheng Group Holdings, Ltd.</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,496,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,928,411</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:4.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TOTAL HONG KONG</B> &#151; (Cost $98,783,617)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">52.8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">134,935,799</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="13"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>HONG KONG &#151; &#147;H&#148; SHARES</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Capital Markets &#151; 3.7%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">China International Capital Corp., Ltd. 144A</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,911,600</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,103,526</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">CITIC Securities Co., Ltd.</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(1)</SUP></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,387,500</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,161,636</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD COLSPAN="8" VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9,265,162</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD COLSPAN="8" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Commercial Banks &#151; 11.9%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Agricultural Bank of China, Ltd.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21,791,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,055,504</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">China Construction Bank Corp.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11,657,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,297,651</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Industrial&nbsp;&amp; Commercial Bank of China, Ltd.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13,420,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,075,949</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD COLSPAN="8" VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">30,429,104</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD COLSPAN="8" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Insurance &#151; 3.9%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">New China Life Insurance Co., Ltd.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,808,100</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,014,525</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Oil, Gas&nbsp;&amp; Consumable Fuels &#151; 1.5%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">China Petroleum&nbsp;&amp; Chemical Corp.</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,024,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3,861,758</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:4.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TOTAL HONG KONG &#151; &#147;H&#148; SHARES</B> &#151; (Cost&nbsp;$46,574,325)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21.0</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">53,570,549</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:4.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TOTAL HONG KONG (INCLUDING &#147;H&#148; SHARES)</B> &#151; (Cost&nbsp;$145,357,942)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">73.8</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">188,506,348</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:4.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TOTAL COMMON STOCK</B> &#151; (Cost $193,459,439)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">99.5</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">254,065,843</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="13"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>COLLATERAL FOR SECURITIES ON LOAN &#151; 4.0%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">State Street Navigator Securities Lending Government Money Market Portfolio, 2.4179%</FONT><FONT
STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex"><FONT STYLE="FONT-FAMILY:SYMBOL">&#165;</FONT></SUP></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"> (Cost
$10,237,903)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,237,903</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,237,903</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR></TABLE> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">See
notes to financial statements. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">12 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>THE CHINA FUND, INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="4"><B>SCHEDULE OF INVESTMENTS (continued) </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>April 30, 2019 (unaudited) </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="69%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000 ; display:table-cell;"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Name of Issuer and Title of Issue</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"> <P STYLE="border-bottom:1px solid #000000 ; display:table-cell;" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Face<BR>Amount</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Value&nbsp;(Note&nbsp;A)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="13"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="12"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>SHORT TERM INVESTMENT &#151; 2.6%</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Repurchase Agreement with Fixed Income Clearing Corporation, dated 04/30/19, 0.50%, due 05/01/19, proceeds $6,699,093;
collateralized by U.S. Treasury Bill, 0.00%, due 04/23/20, valued at $6,833,688, including interest. (Cost $6,699,000 )</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,699,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">
&#036;
</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,699,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:4.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TOTAL INVESTMENTS</B> &#151; (Cost $210,396,342)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">106.1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">271,002,746</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>OTHER ASSETS AND LIABILITIES</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(6.1</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(15,529,964</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD COLSPAN="4" VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>NET ASSETS</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">100.0</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">255,472,782</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:4px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><U>Notes to Schedule of Investments </U></FONT></P> <P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;<SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">*</SUP></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">Denotes <FONT STYLE="white-space:nowrap">non-income</FONT> producing security. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">&nbsp;&nbsp;<SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex"><FONT STYLE="FONT-FAMILY:SYMBOL">&#165;</FONT></SUP></FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">Rate shown is the <FONT STYLE="white-space:nowrap">7-day</FONT> yield as of April&nbsp;30, 2019. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(1)</SUP>&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">Securities (or a portion of the security) is on loan. As of April&nbsp;30, 2019, the market value of the securities loaned was $20,194,218. The loaned
securities were secured with cash collateral of $10,237,903 and <FONT STYLE="white-space:nowrap">non-cash</FONT> collateral with a value of $11,320,424. The <FONT STYLE="white-space:nowrap">non-cash</FONT> collateral received consists of short term
investments and long term bonds, and is held for the benefit of the Fund at the Fund&#146;s custodian. The Fund cannot repledge or resell this collateral. Collateral is calculated based on prior day&#146;s prices. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:4px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="1">144A Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from
registration, normally to qualified institutional buyers. At April&nbsp;30, 2019, these restricted securities amounted to $6,196,612, which represented 2.4% of total net assets. </FONT></P> <P STYLE="margin-top:4px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="1">ADR American Depositary Receipt </FONT></P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">See notes to financial statements. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">13 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B><A NAME="cov718248_8"></A>THE CHINA FUND, INC. </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>STATEMENT OF ASSETS AND LIABILITIES </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>April 30, 2019 (unaudited) </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="87%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="4"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>ASSETS</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:0em; text-indent:0em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Investments in securities, at value (cost $210,396,342) (including securities on loan, at value, $20,194,218)
(Note&nbsp;A)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">271,002,746</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Cash</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,335</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Foreign currency, at value (cost $24,812)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">24,733</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Receivable for investments sold</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,164</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Receivable for securities lending income</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">25,028</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest receivable</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">93</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Prepaid expenses and other receivables</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">97,927</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TOTAL ASSETS</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">271,153,026</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="4"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>LIABILITIES</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:0em; text-indent:0em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Payable for investments purchased</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5,110,527</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Payable upon return of collateral for securities on loan</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,237,903</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Investment management fee payable (Note B)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">147,956</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Administration and custodian fees payable (Note B)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">64,211</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chief Compliance Officer fees payable</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4,258</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Directors&#146; fees payable (Note B)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Other accrued expenses and liabilities</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">114,389</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TOTAL LIABILITIES</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15,680,244</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TOTAL NET ASSETS</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">255,472,782</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="4"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>COMPOSITION OF NET ASSETS:</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:0em; text-indent:0em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Par value, 100,000,000 shares authorized, 10,811,990 shares outstanding (Note C)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">108,120</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Paid in capital in excess of par</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">191,310,397</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Distributable earnings</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">64,054,265</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TOTAL NET ASSETS</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">255,472,782</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="32" COLSPAN="5"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="4"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>NET ASSET VALUE PER SHARE</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:0em; text-indent:0em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">($255,472,782/10,811,990 shares of common stock outstanding)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$23.63</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">See notes to financial statements.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">14 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>THE CHINA FUND, INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="4"><B>STATEMENT OF OPERATIONS </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Six Months Ended April&nbsp;30, 2019 (unaudited)
</B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="4"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>INVESTMENT INCOME:</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:0em; text-indent:0em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dividend income &#151; (net of tax withheld of $10,569)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">499,387</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Securities lending income</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">159,007</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Interest income</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">20,248</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TOTAL INVESTMENT INCOME</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">678,642</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5" COLSPAN="5"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="4"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>EXPENSES</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:0em; text-indent:0em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Investment Management fees (Note B)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">949,369</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Custodian fees (Note B)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">254,734</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Administration fees (Note B)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">215,679</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Directors&#146; fees and expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">194,011</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Legal fees</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">104,179</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Shareholder service fees</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">72,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Insurance</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">51,749</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Printing and postage</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">41,450</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Audit and tax service fees</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">34,064</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Principal Financial Officer fee</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">29,753</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chief Compliance Officer fee</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">29,753</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Transfer agent fees</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11,895</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Stock exchange listing fee</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,393</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Miscellaneous expenses</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">112,337</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>TOTAL EXPENSES</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,107,366</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Less: Expense waiver</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,990</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Net Expenses</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,105,376</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>NET INVESTMENT LOSS</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,426,734</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY TRANSACTIONS</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net realized gain on investments</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8,386,729</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net realized loss on foreign currency transactions</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(86,885</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8,299,844</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net change in unrealized appreciation/depreciation on investments</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">59,622,119</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net change in unrealized appreciation/depreciation on foreign currency translations</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">76,841</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">59,698,960</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>NET REALIZED AND UNREALIZED GAIN ON INVESTMENTS AND FOREIGN CURRENCY TRANSACTIONS</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">67,998,804</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>NET INCREASE IN NET ASSETS FROM OPERATIONS</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">66,572,070</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">See notes to financial statements.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">15 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>THE CHINA FUND, INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="4"><B>STATEMENTS OF CHANGES IN NET ASSETS </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>&nbsp;&nbsp;</B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="72%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Six&nbsp;Months&nbsp;Ended<BR>April&nbsp;30, 2019</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Year Ended<BR>October&nbsp;31,&nbsp;2018</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(unaudited)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="8"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:0em; text-indent:0em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net investment income (loss)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1,426,734</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2,270,647</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net realized gain on investments and foreign currency transactions</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8,299,844</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">33,960,459</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net change in unrealized appreciation/depreciation on investments and foreign currency translations</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">59,698,960</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(95,666,600</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net increase (decrease) in net assets from operations</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">66,572,070</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(59,435,494</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="8"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>DISTRIBUTIONS TO SHAREHOLDERS FROM:</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:0em; text-indent:0em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Distributable earnings</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(8,491,817</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(8,636,465</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total distributions to shareholders</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(8,491,817</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(8,636,465</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="8"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>CAPITAL SHARE TRANSACTIONS:</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:0em; text-indent:0em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Cost of shares tendered (Note E)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(97,213,310</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Cost of shares repurchased (Note D)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3,863,233</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net increase (decrease) in net assets from capital share transactions</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(101,076,543</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>NET DECREASE IN NET ASSETS</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(42,996,290</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(68,071,959</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="13" COLSPAN="9"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="8"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>NET ASSETS:</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:0em; text-indent:0em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Beginning of Period</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">298,469,072</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">366,541,031</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">End of Period</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">255,472,782</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">298,469,072</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">See notes to financial statements.
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">16 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>THE CHINA FUND, INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="4"><B>FINANCIAL HIGHLIGHTS </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Selected data for a share of common stock outstanding for the
periods indicated </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="56%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ROWSPAN="2"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Six Months<BR>Ended<BR>April&nbsp;30,&nbsp;2019<SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(1)</SUP></B></FONT></TD>
<TD VALIGN="bottom" ROWSPAN="2"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Year Ended October&nbsp;31,</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2018</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2017</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2016</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2015</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>2014</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(unaudited)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD COLSPAN="2" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD COLSPAN="6" VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="25"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="24"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U>Per Share Operating Performance</U></B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:0em; text-indent:0em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net asset value, beginning of period</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">18.98</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">23.31</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">18.78</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">19.91</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">24.21</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">25.77</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net investment income/(loss)*</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(0.11</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.14</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.18</FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(2)</SUP>&nbsp;</FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.46</FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(2)</SUP>&nbsp;</FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.26</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.33</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net realized and unrealized gain (loss) on investments and foreign currency transactions</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5.20</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3.92</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">4.82</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(0.10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(0.79</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.43</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total from investment operations</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5.09</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3.78</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">5.00</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.36</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(0.53</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.76</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="25"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="24"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Less dividends and distributions:</FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:0em; text-indent:0em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Dividends from net investment income</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(0.17</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(0.55</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(0.47</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(0.21</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(0.30</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(0.44</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Distributions from net realized gains</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(0.37</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1.28</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3.47</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2.88</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total dividends and distributions</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(0.54</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(0.55</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(0.47</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1.49</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3.77</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3.32</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="25"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="24"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Capital Share Transactions:</FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:0em; text-indent:0em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Accretion (Dilution) to net asset value, resulting from share repurchase program, tender offer or issuance of shares in stock
dividend</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.00</FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(3)</SUP>&nbsp;</FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net asset value, end of period</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">23.63</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">18.98</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">23.31</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">18.78</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">19.91</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">24.21</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Market price, end of period</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21.18</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16.98</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21.10</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">16.18</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">17.49</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21.44</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U>Total Investment Return (Based on Market Price)</U></B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">28.54</FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(4)</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(17.53</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">34.38</FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(5)</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.73</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1.95</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">9.71</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U>Total Investment Return (Based on Net Asset Value)</U></B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">28.29</FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(4)</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(16.55</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">27.90</FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(5)</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">3.73</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1.16</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">8.93</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2" COLSPAN="25"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="24"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><U>Ratios and Supplemental Data</U></B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:0em; text-indent:0em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Net assets, end of period (000&#146;s)</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">255,473</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">298,469</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">366,541</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">295,252</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">312,191</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">379,692</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ratio of gross expenses to average net assets</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.52</FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(6)</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ratio of net expenses to average net assets</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.52</FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(6)</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.91</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.49</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.51</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.34</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.31</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Ratio of net investment income/(loss) to average net assets</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1.03</FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)%</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(6)</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.62</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0.92</FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(2)</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">2.66</FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(2)</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.16</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.39</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD>
<TD HEIGHT="2" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Portfolio turnover rate</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="1"></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">93</FONT><FONT STYLE="font-family:Times New Roman" SIZE="2"></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%</FONT><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(4)</SUP></FONT><FONT
STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">50</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">31</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">52</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">64</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">67</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">%&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">*</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE="" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">Per share amounts have been calculated using the average share method. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(1)</SUP>&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">Effective January&nbsp;1, 2019, Matthews International Capital Management, LLC became the investment manager. Prior to January&nbsp;1, 2019, the
Fund&#146;s investment manager was Allianz Global Investors. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(2)</SUP>&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">Amount includes a <FONT STYLE="white-space:nowrap">non-recurring</FONT> receipt of a refund for over-billing of prior years&#146; custody out of pocket
expense which amounted to $0.02 per share and 0.12% of average net assets during 2016 and less than $0.01 per share and less than 0.005% of net assets during 2017. </FONT></P></TD></TR></TABLE>
<P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(3)</SUP>&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">Amount is less than $0.01. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(4)</SUP>&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">Not Annualized </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(5)</SUP>&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">The performance has been restated to reflect an adjustment to the dividend reinvestment price applied in 2016, which had the effect of modestly
understating performance for the period. </FONT></P></TD></TR></TABLE> <P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1"><SUP STYLE="vertical-align:baseline; position:relative; bottom:.8ex">(6)</SUP>&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">Annualized </FONT></P></TD></TR></TABLE> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">See notes to financial statements. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">17 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B><A NAME="cov718248_9"></A>THE CHINA FUND, INC. </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>NOTES TO FINANCIAL STATEMENTS </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>April&nbsp;30, 2019 (unaudited) </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2" COLOR="#873940"><B>NOTE A &#151; SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The China Fund, Inc. (the &#147;Fund&#148;) was incorporated under the laws of the State of Maryland on April&nbsp;28, 1992, and is a <FONT
STYLE="white-space:nowrap">non-diversified,</FONT> <FONT STYLE="white-space:nowrap">closed-end</FONT> management investment company registered under the Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;). The Fund&#146;s
investment objective is long-term capital appreciation which it seeks to achieve by investing primarily in equity securities (i)&nbsp;of companies for which the principal securities trading market is the People&#146;s Republic of China
(&#147;China&#148;), (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)&nbsp;constituting direct equity investments in companies organized in China (&#147;Direct Investments&#148;). The following is a summary of
significant accounting policies followed by the Fund in the preparation of its financial statements. The Fund&#146;s investment manager is Matthews International Capital Management, LLC (&#147;Matthews Asia&#148; or the &#147;Investment
Manager&#148;). </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the
Financial Accounting Standards Board Accounting Standard Codification Topic 946 &#147;Financial Services &#151; Investment Companies.&#148; </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The financial statements are prepared in accordance with U.S. generally accepted accounting principles (&#147;GAAP&#148;), which require management to
make estimates and assumptions that affect the reported amounts of assets and liabilities. Actual results could differ from those estimates. The following summarizes the significant accounting policies of the Fund: </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Security Valuation:</B>&nbsp;&nbsp;&nbsp;&nbsp;Portfolio securities listed on recognized U.S. or foreign security exchanges are valued at the last
quoted sales price in the principal market where they are traded. Listed securities with no such sales price and unlisted securities are valued at the mean between the current bid and asked prices, if any, from brokers. Short-term investments having
maturities of sixty days or less are valued at amortized cost (original purchase cost as adjusted for amortization of premium or accretion of discount) which when combined with accrued interest approximates market value. Securities for which market
quotations are not readily available or are deemed unreliable are valued at fair value in good faith by or at the direction of the Board of Directors (the &#147;Board&#148;) considering relevant factors, data and information including, if relevant,
the market value of freely tradable securities of the same class in the principal market on which such securities are normally traded. Direct Investments, if any, are valued at fair value as determined by or at the direction of the Board based on
financial and other information supplied by the Investment Manager regarding each Direct Investment. Forward currency contracts are valued at the current cost of offsetting the contract. Equity linked securities, if any, are valued at fair value
primarily based on the value(s) of the underlying security (or securities), which normally follows the same methodology as the valuation of securities listed on recognized exchanges. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Factors used in determining fair value may include, but are not limited to, the type of security, the size of the holding, the initial cost of the security, the existence of any contractual restrictions
on the security&#146;s disposition, the price and extent of public trading in similar securities of the issuer or of comparable companies, the availability of quotations from broker-dealers, the availability of values of third parties other than the
Investment Manager, </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">18 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>NOTES TO FINANCIAL STATEMENTS (continued) (unaudited) </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">information obtained from the issuer, analysts, and/or the appropriate stock
exchange (if available), an analysis of the company&#146;s financial statements, an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold, and with respect to debt securities, the maturity,
coupon, creditworthiness, currency denomination, and the movement of the market in which they trade. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Repurchase
Agreements:</B>&nbsp;&nbsp;&nbsp;&nbsp;In connection with transactions in repurchase agreements, it is the Fund&#146;s policy that its custodian take possession of the underlying collateral securities, the fair value of which exceeds the principal
amount of the repurchase transaction, including accrued interest, at all times. If the seller defaults, realization of the collateral by the Fund may be delayed or limited. </FONT></P>
<P STYLE="font-size:8px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="53%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Remaining Contractual Maturity of the Agreements<BR>As of April&nbsp;30, 2019</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Overnight&nbsp;and<BR>Continuous</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>&lt;30&nbsp;days</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Between<BR>30&nbsp;&amp;&nbsp;90&nbsp;days</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>&gt;90&nbsp;days</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Total</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="20"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Repurchase Agreements</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:0em; text-indent:0em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">U.S. Treasury and agency securities</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,699,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,699,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total Borrowings</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>$</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>6,699,000</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>$</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>$</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>$</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>$</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>6,699,000</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:6px;margin-bottom:0px;padding-bottom:0px; "><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Securities Lending:</B>&nbsp;&nbsp;&nbsp;&nbsp;The Fund may lend up to 33<FONT SIZE="1"><SUP
STYLE="vertical-align:baseline; position:relative; bottom:.8ex">1</SUP></FONT><FONT SIZE="2">/</FONT><FONT SIZE="1"><SUB STYLE="vertical-align:baseline; position:relative; top:.1ex">3</SUB></FONT><FONT STYLE="font-family:Times New Roman" SIZE="2">%
of the Fund&#146;s total assets held by State Street Bank and Trust Company (&#147;State Street&#148;), as custodian, to certain qualified brokers, except those securities which the Fund or the Investment Manager specifically identifies as not being
available. By lending its investment securities, the Fund attempts to increase its net investment income through the receipt of interest on the loan. Any gain or loss in the market price of the securities loaned that might occur and any interest or
dividends declared during the term of the loan would accrue to the account of the Fund. Risks of delay in recovery of the securities or even loss of rights in the collateral may occur should the borrower of the securities fail financially. Risks may
also arise to the extent that the value of the collateral decreases below the value of the securities loaned. Upon entering into a securities lending transaction, the Fund receives cash or other securities as collateral in an amount equal to or
exceeding 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies, 102% of the current market value of the loaned securities with respect to U.S. securities and 105% of the current
market value of the loaned securities with respect to foreign securities. Any cash received as collateral is generally invested by State Street, acting in its capacity as securities lending agent (the &#147;Agent&#148;), in the State Street
Navigator Securities Lending Government Money Market Portfolio. <FONT STYLE="white-space:nowrap">Non-cash</FONT> collateral is not disclosed in the Fund&#146;s Statement of Assets and Liabilities as it is held by the lending agent on behalf of the
Fund and the Fund does not have the ability to <FONT STYLE="white-space:nowrap">re-hypothecate</FONT> those securities. A portion of the dividends received on the collateral may be rebated to the borrower of the securities and the remainder is split
between the Agent and the Fund. </FONT></FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">19 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>NOTES TO FINANCIAL STATEMENTS (continued) (unaudited) </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="font-size:8px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Remaining Contractual Maturity of the Agreements<BR>As of April&nbsp;30, 2019</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Overnight&nbsp;and<BR>Continuous</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>&lt;30&nbsp;days</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Between<BR>30&nbsp;&amp;&nbsp;90&nbsp;days</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>&gt;90&nbsp;days</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Total</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top" COLSPAN="20"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Securities Lending Transactions</B></FONT></P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:0em; text-indent:0em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></P></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Money Market Fund</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,237,903</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,237,903</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Total Borrowings</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>$</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>10,237,903</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>$</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>$</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>$</B></FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&#151;</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>$</B></FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>10,237,903</B></FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Gross amount of recognized liabilities for securities lending transactions</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,237,903</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">As of April&nbsp;30, 2019, the Fund had loaned securities which were collateralized by cash, short term investments and
long term bonds. The value of the securities on loan and the value of the related collateral were as follows: </FONT></P> <P STYLE="font-size:8px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="20%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="20%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="20%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Value of<BR>Securities</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Value of Cash<BR>Collateral</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B><FONT STYLE="white-space:nowrap">Value&nbsp;of&nbsp;Non-Cash</FONT><BR>Collateral*</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Total<BR>Collateral</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$20,194,218</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,237,903</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">11,320,424</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">21,558,327</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">*</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE="" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">Fund cannot repledge or dispose of this collateral, nor does the Fund earn any income or receive dividends with respect to this collateral.
</FONT></P></TD></TR></TABLE> <P STYLE="font-size:8px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="24%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="24%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="24%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Gross Amounts Not Offset in the Statement of Assets and Liabilities</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Gross&nbsp;Asset&nbsp;Amounts<BR>Presented&nbsp;in&nbsp;Statement&nbsp;of<BR>Assets and
Liabilities</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Financial<BR>Instrument</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Collateral<BR>Received(b)</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="BORDER-BOTTOM:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Net&nbsp;Amount</B></FONT></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">$10,237,903</FONT></TD>
<TD NOWRAP VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(10,237,903</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">0</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Foreign currency translations:</B>&nbsp;&nbsp;&nbsp;&nbsp;The records of the Fund are maintained in U.S. dollars.
Foreign currencies, investments and other assets and liabilities are translated into U.S. dollars at the current exchange rates. Purchases and sales of investment securities and income and expenses are translated on the respective dates of such
transactions. Net realized gains and losses on foreign currency transactions represent net gains and losses from the disposition of foreign currencies, currency gains and losses realized between the trade dates and settlement dates of security
transactions, and the difference between the amount of net investment income accrued and the U.S. dollar amount actually received. The effects of changes in foreign currency exchange rates on investments in securities are not segregated in the
Statement of Operations from the effects of changes in market prices of those securities, but are included in realized and unrealized gain or loss on investments. Net unrealized foreign currency gains and losses arise from changes in the value of
assets and liabilities, other than investments in securities, as a result of changes in exchange rates. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Forward Foreign Currency
Contracts:</B>&nbsp;&nbsp;&nbsp;&nbsp;The Fund may enter into forward foreign currency contracts to hedge against foreign currency exchange rate risks. A forward currency contract is an agreement between two parties to buy or sell currency at a set
price on a future date. Upon entering into these contracts, risks may arise from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of the foreign currency relative to the
U.S. dollar. The U.S. dollar value of forward currency contracts is determined using forward exchange rates provided by quotation services. Daily fluctuations in the value of such </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">20 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>NOTES TO FINANCIAL STATEMENTS (continued) (unaudited) </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">contracts are recorded as unrealized gains or losses on the Statement of
Assets and Liabilities. When the contract is closed, the Fund records a realized gain or loss equal to the difference between the value at the time it was opened and the value at the time it was closed. Such gain or loss is disclosed in the realized
and unrealized gain or loss on foreign currency in the Fund&#146;s accompanying Statement of Operations. At April&nbsp;30, 2019, the Fund did not hold any forward foreign currency contracts. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Option Contracts:</B>&nbsp;&nbsp;&nbsp;&nbsp;The Fund may purchase and write (sell) call options and put options provided the transactions are for hedging purposes and the initial margin and premiums
do not exceed 5% of total assets. Option contracts are valued daily and unrealized gains or losses are recorded on the Statement of Assets and Liabilities based upon the last sale price on the principal exchange on which the options are traded. The
Fund will realize a gain or loss upon the expiration or closing of the option contract. Such gain or loss is disclosed in the realized and unrealized gain or loss on options in the Fund&#146;s accompanying Statement of Operations. When an option is
exercised, the proceeds on the sale of the underlying security for a written call option, the purchase cost of the security for a written put option, or the cost of the security for a purchased put or call option is adjusted by the amount of premium
received or paid. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The risk in writing a call option is that the Fund gives up the opportunity for profit if the market price of the security
increases and the option is exercised. The risk in writing a put option is that the Fund may incur a loss if the market price of the security decreases and the option is exercised. The risk in buying an option is that the Fund pays a premium whether
or not the option is exercised. Risks may also arise from an illiquid secondary market or from the inability of a counterparty to meet the terms of the contract. At April&nbsp;30, 2019, the Fund did not hold any option contracts. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Equity-Linked Securities:</B>&nbsp;&nbsp;&nbsp;&nbsp;The Fund may invest in equity-linked securities such as linked participation notes, equity swaps
and <FONT STYLE="white-space:nowrap">zero-strike</FONT> options and securities warrants. Equity-linked securities may be used by the Fund to gain exposure to countries that place restrictions on investments by foreigners. To the extent that the Fund
invests in equity-linked securities whose return corresponds to the performance of a foreign securities index or one or more foreign stocks, investing in equity-linked securities will involve risks similar to the risks of investing in foreign
securities. In addition, the Fund bears the risk that the issuer of any equity-linked securities may default on its obligation under the terms of the arrangement with the counterparty. Equity-linked securities are often used for many of the same
purposes as, and share many of the same risks with, derivative instruments. In addition, equity-linked securities may be considered illiquid. At April&nbsp;30, 2019, the Fund did not hold any equity-linked securities. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Direct Investments:</B>&nbsp;&nbsp;&nbsp;&nbsp;The Fund may invest up to 25% of the net proceeds from the offering of its outstanding common stock in
Direct Investments; however, the Board of the Fund has suspended additional investments in Direct Investments. Direct Investments are generally restricted and do not have a readily available resale market. Because of the absence of any public
trading market for these investments, the Fund may take longer to liquidate these positions than would be the case for publicly traded securities. Although these securities may be resold in privately negotiated transactions, the prices on these
sales could be less than those originally paid by the Fund. Issuers whose securities are not publicly traded may not be subject to public disclosure and other investor protection requirements applicable to publicly traded securities. At
April&nbsp;30, 2019, the Fund did not hold any Direct Investments. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">21 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>NOTES TO FINANCIAL STATEMENTS (continued) (unaudited) </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Indemnification Obligations:</B>&nbsp;&nbsp;&nbsp;&nbsp;Under the
Fund&#146;s organizational documents, its Officers and Directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In addition, in the normal course of business the Fund enters into contracts
that provide general indemnifications to other parties. The Fund&#146;s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Security transactions and investment income:</B>&nbsp;&nbsp;&nbsp;&nbsp;Security transactions are recorded as of the trade date. Realized gains and
losses from securities sold are recorded on the identified cost basis. Dividend income is recorded on the <FONT STYLE="white-space:nowrap">ex-dividend</FONT> date, or, in the case of dividend income on foreign securities, on the <FONT
STYLE="white-space:nowrap">ex-dividend</FONT> date or when the Fund becomes aware of its declaration. Interest income is recorded on the accrual basis. All premiums and discounts are amortized/accreted for both financial reporting and federal income
tax purposes. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Dividends and distributions:</B>&nbsp;&nbsp;&nbsp;&nbsp;The Fund intends to distribute to its stockholders, at least
annually, substantially all of its net investment income and any net realized capital gains. Distributions to stockholders are recorded on the <FONT STYLE="white-space:nowrap">ex-dividend</FONT> date. Income and capital gains distributions are
determined in accordance with federal income tax regulations, which may differ from U.S. GAAP. Certain capital accounts in the financial statements are periodically adjusted for permanent differences in order to reflect their tax character. These
adjustments have no impact on net assets or net asset value (&#147;NAV&#148;) per share. Temporary differences which arise from recognizing certain items of income, expense, gain or loss in different periods for financial statement and tax purposes
will reverse at some time in the future. Unless the Board elects to make distributions in shares of the Fund&#146;s common stock, the distributions will be paid in cash, except with respect to stockholders who have elected to participate in the
Fund&#146;s Dividend Reinvestment and Cash Purchase Plan. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Federal Taxes:</B>&nbsp;&nbsp;&nbsp;&nbsp;It is the Fund&#146;s policy to qualify
each year as a regulated investment company under Subchapter M of the Internal Revenue Code, as amended (&#147;Code&#148;), and to distribute to stockholders each year substantially all of its income. Accordingly, no provision for federal income tax
is necessary. As of and during the period ended April&nbsp;30, 2019, the Fund did not have a liability for any uncertain tax positions. The Fund recognizes interest and penalties, if any, related to tax liabilities as income tax expense in the
Statement of Operations. For the previous three years the Fund remains subject to examination by the Fund&#146;s major tax jurisdictions, which include the United States of America and the State of Maryland. The Fund may be subject to taxes imposed
by governments of countries in which it invests. Such taxes are generally based on either income or gains earned or repatriated. The Fund accrues and applies such taxes to net investment income, net realized gains and net unrealized gains as income
is earned and/or as gains are realized. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">At April&nbsp;30, 2019, the cost of investments for federal income tax purposes was $210,396,342.
Gross unrealized appreciation of investments was $60,980,334 while gross unrealized depreciation of investments was $373,930, resulting in net unrealized appreciation of investments of $60,606,404. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">22 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>NOTES TO FINANCIAL STATEMENTS (continued) (unaudited) </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2" COLOR="#873940"><B>NOTE B &#151; ADVISORY FEE AND OTHER TRANSACTIONS
</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Effective January&nbsp;1, 2019, Matthews Asia is the investment manager for the Fund&#146;s listed assets (&#147;Listed Assets&#148;) and
Direct Investments.&nbsp;Matthews Asia receives a fee, computed and accrued daily and paid monthly at a rate of 0.70% if assets exceed $150 million and 0.80% if assets do not exceed $150 million. Prior to January&nbsp;1, 2019, Allianz Global
Investors (&#147;AGI&#148;) was the investment manager for the Fund&#146;s Listed Assets and Direct Investments. AGI received a fee, computed weekly and payable monthly, at the following annual rates: 0.70% of the first US$315&nbsp;million of the
Fund&#146;s average weekly net assets invested in Listed Assets; and 0.50% of the Fund&#146;s average weekly net assets invested in Listed Assets in excess of US$315&nbsp;million. For the period ended April 30, 2019, the investment management fee
rate was equivalent to an annual effective rate of 0.70% of the Fund&#146;s average daily net assets. For the six months ended April&nbsp;30, 2019, the Investment Manager was paid no fees for Direct Investments as the Fund held no such investments
during the period. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">No director, officer or employee of Matthews Asia, AGI, or any affiliates of those entities receives any compensation from
the Fund for serving as an officer or director of the Fund. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">State Street provides or arranges for the provision of certain administrative
services for the Fund, including preparing certain reports and other documents required by federal and/or state laws and regulations. The Fund pays State Street a fee that is calculated daily and paid monthly at an annual rate based on aggregate
average daily assets of the Fund. The Fund also pays State Street an annual fee for certain legal administration services, including corporate secretarial services and preparing regulatory filings. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Fund has also contracted with State Street to provide custody and fund accounting services to the Fund. For these services, the Fund pays State Street
asset-based fees that vary according to the number of positions and transactions plus <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> expenses. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2" COLOR="#873940"><B>NOTE C &#151; FUND SHARES </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">At April&nbsp;30, 2019, there were 100,000,000
shares of $0.01 par value capital stock authorized, of which 10,811,990 were issued and outstanding. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">For the period ended April&nbsp;30, 2019,
the Fund repurchased 4,910,685 shares of its common stock, valued at $101,076,543, from stockholders participating in the Fund&#146;s tender offer and repurchases under the Fund&#146;s discount management program. </FONT></P>
<P STYLE="font-size:8px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="85%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>For&nbsp;Period&nbsp;Ended</B></FONT><br><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>April&nbsp;
30,&nbsp;2019</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Shares outstanding at beginning of period</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">15,722,675</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Shares repurchased</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(193,882</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Shares tendered</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">(4,716,803</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">)&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Shares outstanding at end of period</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,811,990</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">23 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>NOTES TO FINANCIAL STATEMENTS (continued) (unaudited) </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2" COLOR="#873940"><B>NOTE D &#151; DISCOUNT MANAGEMENT PROGRAM </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">On February&nbsp;6, 2019, the Fund announced that its Board of Directors approved a Discount Management Program (the &#147;Program&#148;) which authorizes
management to make open market purchases in an aggregate amount up to 10% of the Fund&#146;s outstanding shares. This limit may be increased or decreased by the Board at any time. Under the Program, the Fund will repurchase its common shares in the
open market on any trading day that the Fund&#146;s shares are trading above the discount threshold, which is currently 9.5%. On each day that shares are repurchased, the Fund repurchases its shares to the maximum extent permitted by law unless the
Board and the Program Manager determine that such repurchase would be detrimental to the Fund and its stockholders. The Program is intended to enhance stockholder value, as repurchases made at a discount may have the effect of increasing the per
share NAV of the Fund&#146;s remaining shares. There is no assurance, however, that the market price of the Fund&#146;s shares, either absolutely or relative to NAV, will increase as a result of any share repurchases. These repurchases may be
commenced or suspended at any time or from time to time without any notice. Any repurchases will be disclosed in the Fund&#146;s stockholder reports for the relevant fiscal periods. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">For the period ended April&nbsp;30, 2019, the Fund repurchased 193,882 of its shares at an average price of $20.58 per share (including brokerage commissions) at an average discount of 11.04%. These
repurchases had a total cost of $3,863,233. The Board will continue to review the Program and its effectiveness, and, as appropriate, may make further enhancements as it believes are necessary. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2" COLOR="#873940"><B>NOTE E &#151; TENDER OFFER </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">On November&nbsp;9, 2018, the Fund announced that its Board approved in principle a <FONT STYLE="white-space:nowrap">one-time</FONT> tender offer (the &#147;Tender Offer&#148;). The Tender Offer commenced
on January&nbsp;4, 2019 and expired on February&nbsp;5, 2019. The Tender Offer was oversubscribed and, pursuant to the terms of the Tender Offer, tendered shares were accepted for payment on a pro rata basis. The Fund accepted 4,716,803 shares for
payment on or about February&nbsp;12, 2019 at $20.61 per share, which is equal to 99% of the Fund&#146;s NAV per share as of the close of regular trading on the New York Stock Exchange on February&nbsp;6, 2019. The 4,716,803 shares totaling
$97,213,310 represented 30% of the Fund&#146;s outstanding shares. On a pro rata basis, approximately 40.71% of the shares so tendered were accepted for payment. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2" COLOR="#873940"><B>NOTE F &#151; INVESTMENT TRANSACTIONS </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">For the six months ended
April&nbsp;30, 2019, the Fund&#146;s cost of purchases and proceeds from sales of investment securities, other than short-term securities, were $252,010,081 and $340,158,753, respectively. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2" COLOR="#873940"><B>NOTE G &#151; INVESTMENTS IN CHINA </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Fund&#146;s investments in Chinese
companies involve certain risks not typically associated with investments in securities of U.S. companies or the U.S. Government, including risks relating to (1)&nbsp;social, economic and political uncertainty; (2)&nbsp;price volatility, lesser
liquidity and smaller market capitalization of securities markets in which securities of Chinese companies trade; (3)&nbsp;currency exchange fluctuations, currency blockage and higher rates of inflation; (4)&nbsp;controls on foreign investment and
limitations on repatriation of invested capital and on the Fund&#146;s ability to exchange local currencies for U.S. dollars; (5)&nbsp;governmental involvement in and control over the </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">24 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>NOTES TO FINANCIAL STATEMENTS (continued) (unaudited) </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">economy; (6)&nbsp;risk of nationalization or expropriation of assets;
(7)&nbsp;the nature of the smaller, less seasoned and newly organized Chinese companies, particularly in China; and (8)&nbsp;the absence of uniform accounting, auditing and financial reporting standards, practices and disclosure requirements and
less government supervision and regulation. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2" COLOR="#873940"><B>NOTE H &#151; FAIR VALUE MEASUREMENT </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Fund has adopted fair valuation accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value.
These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value and a discussion of changes in valuation techniques and related inputs during the period. These inputs
are summarized in the three broad levels listed below: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Level&nbsp;1 &#151; Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to
access at the measurement date; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Level&nbsp;2 &#151; Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly, including inputs in
markets that are not considered to be active; </FONT></P></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#149;</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">Level&nbsp;3 &#151; Inputs that are unobservable. </FONT></P></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The following is a summary of the inputs used as of April&nbsp;30, 2019 in valuing the Fund&#146;s investments carried at value: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>ASSETS VALUATION INPUT </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000 ; display:table-cell;"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Description*</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Level&nbsp;1</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Level&nbsp;2</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Level&nbsp;3</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Total</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Common Stock</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">254,065,843</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">254,065,843</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Collateral For Securities On Loan</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,237,903</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,237,903</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Short Term Investments</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,699,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,699,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">TOTAL INVESTMENTS</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">264,303,746</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">6,699,000</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#151;</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">$</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">271,002,746</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size:1px">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:4px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">*</FONT></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE="" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="1">Please refer to the Schedule of Investments for additional security details. </FONT></P></TD></TR></TABLE>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2" COLOR="#873940"><B>NOTE I &#151; DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Fund did not enter into any derivatives transactions or hedging activities for the six months ended April&nbsp;30, 2019. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2" COLOR="#873940"><B>NOTE J &#151; SUBSEQUENT EVENT </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Management has evaluated the impact of all
events or transactions occurring after year end through the date these financial statements were issued, and has determined that there were no subsequent events requiring recognition or disclosure. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">25 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B><A NAME="cov718248_10"></A>THE CHINA FUND, INC. </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>Other Information (unaudited) </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Board Deliberations Regarding Approval of Investment Advisory and Management Agreement </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>General Background </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">On October&nbsp;11,
2018, the Board of Directors, all of whom are Independent Directors (the &#147;Board&#148;), voted to approve the Investment Advisory and Management Agreement between the Fund and Matthews International Capital Management, LLC (&#147;Matthews
Asia&#148;) (the &#147;Agreement&#148;). </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Approval Process </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">In making this selection the Board noted that Matthews Asia has a singular focus on Asia and employs a fundamental, <FONT STYLE="white-space:nowrap">bottom-up</FONT> investment process that seeks to
identify companies with sustainable long-term growth prospects, strong business models, quality management teams and reasonable valuations. The Board noted that Matthews Asia&#146;s intent is to manage the Fund using an all capitalization universe
that includes approximately 5,000&nbsp;companies. The Board noted that to better reflect the all capitalization universe of this strategy, as well as its focus on China rather than Greater China, the Fund&#146;s benchmark index would change from the
MSCI Golden Dragon Index to the MSCI China All Shares Index upon the commencement of Matthews Asia&#146;s management of the Fund. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Board
also considered Matthews Asia&#146;s attention to risk management, which focuses on governance matters, including franchise and management issues, security risk, which includes valuation and liquidity considerations, and macro factors including
geopolitical and regulatory issues. The Board noted that Matthews Asia employs an independent risk committee that conducts an autonomous assessment of risk utilizing
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">value-at-risk</FONT></FONT> modeling, liquidity metrics, country and currency exposure and company specific testing for all holdings. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Board also considered the terms and conditions of the proposed Agreement. The Board noted that the current management Agreement with Allianz Global
Investors (the &#147;AGI Agreement&#148;) and the proposed Agreement are substantially similar, with one exception. The proposed Agreement has a tiered advisory fee of 0.70% if assets exceed $150&nbsp;million and 0.80% if assets do not exceed
$150&nbsp;million and the AGI Agreement has a tiered advisory fee of 0.70% of the first $315&nbsp;million of the Fund&#146;s average weekly net assets and 0.50% of the Fund&#146;s average weekly net assets in excess of $315&nbsp;million. At the
current and anticipated asset levels of the Fund, the difference in advisory fees rates between the proposed Agreement and the AGI Agreement is expected to be immaterial. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Board also based its decision on various factors, including (i)&nbsp;the nature, extent and quality of the services to be provided by Matthews Asia under the Agreement, (ii)&nbsp;the investment
performance, fees and expenses of the Fund, and (iii)&nbsp;the extent to which economies of scale would be realized if and as the Fund grows and whether the fee levels in the Agreement reflects these economies of scale. The Board did not identify
any consideration that was all important or controlling, and each Director may have attributed different weights to the various factors. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Nature, Extent and Quality of the Services provided by the Investment Adviser.</I> The Board reviewed and considered the nature and extent of the
investment management services to be provided by Matthews Asia under the proposed Agreement. The Board noted the following: </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Matthews Asia,
with offices in San Francisco, CA, is an investment adviser registered with the U.S. Securities and Exchange Commission. If Matthews Asia is engaged by the Fund, Andrew Mattock, CFA, of Matthews Asia, would
</FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">26 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>THE CHINA FUND, INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="4"><B>Other Information (continued) (unaudited) </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">become the Fund&#146;s portfolio manager. Mr.&nbsp;Mattock is <FONT STYLE="white-space:nowrap">U.S.-based</FONT> and has over 19 years of experience investing in the Greater China markets and 23 years of
industry experience. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Matthews Asia has not managed a U.S. registered <FONT STYLE="white-space:nowrap">closed-end</FONT> fund previously.
Matthews Asia does, however, manage U.S. registered <FONT STYLE="white-space:nowrap">open-end</FONT> funds. The Board considered Matthews Asia&#146;s compliance program and compliance capabilities as well as the portfolio manager&#146;s previous
experience and concluded that Matthews Asia has a compliance program that appears to be reasonably designed to prevent violations of the Federal securities laws. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The Board determined that Matthews Asia appeared to be capable of providing the Fund with investment management services of above average quality. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><I>Performance, Fees and Expenses of the Fund.</I> The Board considered Matthews Asia&#146;s performance in managing other portfolios with strategies focused, at least in part, on Chinese equity
securities, and concluded that there was reason to believe that Matthews Asia could achieve competitive performance over the long term in managing the Fund. The Board also noted that other expenses of the Fund were not expected to increase
materially as a result of the retention of Matthews Asia. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Economies of Scale.</I> The Board considered the potential benefits from
economies of scale that the Fund&#146;s stockholders could be afforded. The Board noted that, while the management fee rate under the proposed Agreement does not decline as the Fund&#146;s assets grow, fixed operating costs are spread over a larger
asset base, resulting in a lower per share allocation of such costs. The Board also considered Matthews Asia&#146;s history of reinvesting its profits in additional resources for providing services to its clients. </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Other Benefits of the Relationship.</I> The Board considered whether there were other benefits that Matthews Asia and its affiliates may derive from
its relationship with the Fund. The Board noted that, if engaged, as adviser the Fund would compensate Matthews Asia for intended enhancements to the Fund&#146;s website. Based on its review, the Board determined that any &#147;fall-out&#148;
benefits or other types of benefits that may accrue to Matthews Asia are fair and reasonable. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Resources of the Proposed Investment
Adviser.</I> The Board considered whether Matthews Asia is financially sound and has the resources necessary to perform its obligations under the proposed Agreement. The Board noted that Matthews Asia appears to have sufficient financial resources
necessary to fulfill its obligations under the proposed Agreement. The Board also considered the anticipated level of profits to be realized by Matthews Asia in connection with its proposed management of certain of the Fund&#146;s assets,
recognizing that such profitability is difficult to ascertain at this point in time. As a result, the Board noted that it periodically would evaluate profitability after Matthews Asia commences management of the Fund and as the Fund&#146;s assets
increase over time. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>General Conclusions.</I> After considering and weighing all of the above factors, the Board concluded that it would be
in the best interest of the Fund and its stockholders to approve the proposed Agreement. In reaching this conclusion, the Board did not give particular weight to any single factor referenced above. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">27 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>THE CHINA FUND, INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="4"><B>Other Information (continued) (unaudited) </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2" COLOR="#873940"><B>Results of Special Stockholder Meeting held on December&nbsp;7, 2018 </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">1.
<U>Investment Advisory and Management Agreement</U> &#151; the stockholders of the Fund approved the proposed Investment Advisory and Management Agreement between the Fund and Matthews International Capital Management, LLC. </FONT></P>
<P STYLE="font-size:8px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="39%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="39%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>For</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Against</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" NOWRAP ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Abstain</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">10,301,974</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">479,812</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">18,980</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2" COLOR="#873940"><B>Results of Annual Stockholder Meeting held on March&nbsp;13, 2019 </B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">1. <U>Election of Director</U> &#151; the stockholders of the Fund elected the following Director to serve for a three year term expiring on the date of
which the annual meeting of stockholders is held in 2022. </FONT></P> <P STYLE="font-size:8px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom"> <P STYLE="border-bottom:1px solid #000000 ; display:table-cell;"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Director</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Votes<BR>Cast&nbsp;for</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Votes<BR>Against/Withheld</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">Richard A. Silver</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">13,421,515</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">499,335</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">28 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>THE CHINA FUND, INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="4"><B>Other Information (unaudited) </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2" COLOR="#873940"><B>PRIVACY POLICY </B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="95%"></TD></TR>


<TR STYLE="page-break-inside:avoid">
<TD VALIGN="top" STYLE="BORDER:1px solid #000000; padding-left:8px; padding-right:8px"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Privacy Notice</B></FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px" align="left"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The China Fund, Inc. collects nonpublic personal
information about its stockholders from the following sources:</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4.00em; text-indent:-2.00em"><FONT
STYLE="font-family:Times New Roman" SIZE="2">&#9744;&#8194;&#8201;&#8201;Information it receives from stockholders on applications or other forms; and</FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:0px; margin-left:4.00em; text-indent:-2.00em"><FONT STYLE="font-family:Times New Roman" SIZE="2">&#9744;&#8194;&#8201;&#8201;Information about stockholder transactions with the Fund.</FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>The Fund&#146;s policy is to not disclose nonpublic personal
information about its stockholders to nonaffiliated third parties </B>(other than disclosures permitted by law).<B></B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Fund restricts access to nonpublic personal information about its stockholders to those agents of the Fund who need to know that information to
provide products or services to stockholders. The Fund maintains physical, electronic and procedural safeguards that comply with federal standards to guard its stockholders&#146; nonpublic personal information.</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2" COLOR="#873940"><B>QUARTERLY PORTFOLIO OF INVESTMENTS </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">A Portfolio of Investments will be filed as of the end of the first and third quarter of each fiscal year on Form <FONT STYLE="white-space:nowrap">N-Q</FONT> and will be available on the Securities and
Exchange Commission&#146;s website at http://www.sec.gov. Form <FONT STYLE="white-space:nowrap">N-Q</FONT> was filed as of January&nbsp;31, 2019 for the first quarter of this fiscal year and is available on the Securities and Exchange
Commission&#146;s website at www.sec.gov. Additionally, the Portfolio of Investments may be reviewed and copied at the Commission&#146;s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be
obtained by calling <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-SEC-0330.</FONT></FONT></FONT> The quarterly Portfolio of Investments will be made available with out charge, upon request,
by calling <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-888-246-2255.</FONT></FONT></FONT> </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2" COLOR="#873940"><B>CERTIFICATIONS </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Fund&#146;s chief executive officer has certified to
the New York Stock Exchange that, as of March&nbsp;21, 2019, he was not aware of any violation by the Fund of applicable New York Stock Exchange corporate governance listing standards. The Fund also has included the certifications of the Fund&#146;s
chief executive officer and chief financial officer required by Section&nbsp;302 and Section&nbsp;906 of the Sarbanes-Oxley Act of 2002 in the Fund&#146;s Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> filed with the Securities and Exchange
Commission, for the period of this report. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">29 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B><A NAME="cov718248_11"></A>DIVIDENDS AND DISTRIBUTIONS: </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>SUMMARY OF DIVIDEND REINVESTMENT AND CASH PURCHASE PLAN </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Fund will distribute to stockholders, at least annually, substantially
all of its net investment income from dividends and interest earnings and expects to distribute any net realized capital gains annually. Pursuant to the Dividend Reinvestment and Cash Purchase Plan (the &#147;Plan&#148;), adopted by the Fund, each
stockholder will automatically be a participant (a &#147;Participant&#148;) in the Plan unless Computershare Trust Company, N.A., the Plan Agent, is otherwise instructed by the stockholder in writing, to have all distributions, net of any applicable
U.S. withholding tax, paid in cash. Stockholders who do not participate in the Plan will receive all distributions in cash paid by check in U.S. dollars mailed directly to the stockholder by Computershare Trust Company, N.A., as paying agent.
Stockholders who do not wish to have distributions automatically reinvested should notify the Fund by contacting Computershare Trust Company, N.A. c/o The China Fund, Inc. at P.O. Box 505000 Louisville, Kentucky&nbsp;40233-5000, by telephone at <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-426-5523</FONT></FONT></FONT> or via the Internet at www.computershare.com/investor. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Whenever the Directors of the Fund declare a capital gains distribution or an income dividend payable only in shares of the Fund&#146;s common stock (including such a declaration that provides an option
to receive cash), Participants will take such distribution or dividend entirely in shares of common stock to be issued by the Fund, and the Plan Agent shall automatically receive such shares of common stock, including fractions, for the
Participant&#146;s account. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Whenever a dividend or distribution is declared payable in cash or shares of the Fund&#146;s common stock, the
Plan will operate as follows: (i)&nbsp;whenever the market price per share of common stock equals or exceeds the net asset value per share at the time shares of common stock are valued for the purpose of determining the number of shares of common
stock equivalent to the dividend or distribution (the &#147;Valuation Date&#148;), Participants will be issued shares of common stock by the Fund valued at net asset value or, if the net asset value is less than 95% of the market price on the
Valuation Date, then Participants will be issued shares valued at 95% of the market price; and (ii)&nbsp;whenever the net asset value per share of the common stock on the Valuation Date exceeds the market price of a share of the common stock on the
Valuation Date, Participants will receive shares of common stock of the Fund purchased in the open market. The Plan Agent will, as purchasing agent for the Participants, buy shares of common stock in the open market, on the New York Stock Exchange
(the &#147;Exchange&#148;) or elsewhere, with the cash in respect of such dividend or distribution for the Participants&#146; accounts on, or shortly after, the payment date. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">If the Fund should declare an income dividend or capital gains distribution payable only in cash, the Plan Agent will, as purchasing agent for the Participants, buy shares of common stock in the open
market, on the Exchange or elsewhere, with the cash in respect of such dividend or distribution for the Participants&#146; accounts on, or shortly after, the payment date. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Participants in the Plan have the option of making additional payments to the Plan Agent annually, in any amount from $100 to $3,000 for investment in the Fund&#146;s Common Stock. The Plan Agent will use
all funds received from participants (as well as any dividends and capital gains distributions received in cash) to purchase Fund shares in the open market on January&nbsp;15 of each year or the next trading day if January 15th is not a trading day.
Participants may make voluntary cash payments by sending a check (in U.S. dollars and drawn on a U.S. Bank) made payable to &#147;Computershare&#148; along with a completed transaction form which is attached to each statement a Participant receives.
The Plan Agent will not accept cash, traveler&#146;s checks, money orders or third party checks. Any voluntary </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">30 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>DIVIDENDS AND DISTRIBUTIONS: </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>SUMMARY OF DIVIDEND REINVESTMENT AND CASH PURCHASE PLAN (continued) </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">cash payments received more than thirty-five days prior to such date will be returned by the Plan Agent, and interest will not be paid on any such amounts. To avoid unnecessary cash accumulations, and
also to allow ample time for receipt and processing by the Plan Agent, participants should send in voluntary cash payments to be received by the Plan Agent approximately two days before January 15. A participant may withdraw a voluntary cash payment
by written notice, if the notice is received by the Plan Agent not less than 48 hours before such payment is to be invested. In the event that a Participant&#146;s check for a voluntary cash payment is returned unpaid for any reason, the Plan Agent
will consider the request for investment of such funds null and void, and shall immediately remove from the Participant&#146;s account those shares, if any, purchased upon the prior credit of such funds. The Plan Agent shall be entitled to sell
shares to satisfy any uncollected amount plus any applicable fees. If the net proceeds of the sale of such shares are insufficient to satisfy the balance of such uncollected amounts, the Plan Agent shall be entitled to sell such additional shares
from the Participant&#146;s account as may be necessary to satisfy the uncollected balance. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">For all purposes of the Plan: (a)&nbsp;the market
price of shares of common stock of the Fund on a particular date shall be the last sales price on the Exchange on the close of the previous trading day or, if there is no sale on the Exchange on that date, then the mean between the closing bid and
asked quotations for such stock on the Exchange on such date, (b)&nbsp;Valuation Date shall be the dividend or distribution payment date or, if that date is not an Exchange trading day, the next preceding trading day, and (c)&nbsp;net asset value
per share of common stock on a particular date shall be as determined by or on behalf of the Fund. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The open-market purchases provided for
above may be made on any securities exchange where the shares of common stock of the Fund are traded, in the <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">over-the-counter</FONT></FONT> market or in negotiated transactions, and
may be on such terms as to price, delivery and otherwise as the Plan Agent shall determine. In every case the price to the Participant shall be the weighted average purchase price obtained by the Plan Agent&#146;s broker, net of fees. Funds held by
the Plan Agent will not bear interest. In addition, it is understood that the Plan Agent shall have no liability (other than as provided in the Plan) in connection with any inability to purchase shares of common stock within 30 days after the
payment date of any dividend or distribution as herein provided or with the timing of any purchases effected. The Plan Agent shall have no responsibility as to the value of the shares of common stock of the Fund acquired for any Participant&#146;s
account. Whenever the Plan Agent, as purchasing agent for the Participants, is to buy shares of common stock in the open market, on the Exchange or elsewhere, with the cash in respect of a dividend or distribution, to the extent the Plan Agent is
able to do so and, before the Plan Agent has completed its purchases, the market price exceeds the net asset value of the common stock, the average per share purchase price paid by the Plan Agent may exceed the net asset value of the common stock,
resulting in the acquisition of fewer shares of common stock than if the income dividend or capital gains distribution had been paid in common stock issued by the Fund. The Plan Agent will apply all cash received as an income dividend or capital
gains distribution to purchase shares of common stock on the open market as soon as practicable after the payment date of such dividend or capital gains distributions, but in no event later than 30 days after such date, except where necessary to
comply with applicable provisions of the federal securities laws. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Plan Agent will confirm in writing, each trade for a Participant&#146;s
account and each share deposit or share transfer promptly after the account activity occurs. The statement will show the number of shares held, the number </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">31 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>DIVIDENDS AND DISTRIBUTIONS: </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>SUMMARY OF DIVIDEND REINVESTMENT AND CASH PURCHASE PLAN (continued) </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">of shares for which dividends are being reinvested, any cash received for purchase of shares, the price per share for any purchases or sales, and any applicable fees for each transaction charged the
Participant. In the event the only activity in a Participant&#146;s account is the reinvestment of dividends, this activity will be confirmed in a statement on at least a quarterly basis. If the Fund pays an annual dividend and the only activity in
a Participant&#146;s account for the calendar year is the reinvestment of such dividend, the Participant will receive an annual statement. These statements are a Participant&#146;s continuing record of the cost basis of purchases and should be
retained for income tax purposes. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The Plan Agent will hold shares of common stock acquired pursuant to the Plan in <FONT
STYLE="white-space:nowrap">non-certificated</FONT> form in the name of the Participant for whom such shares are being held and each Participant&#146;s proxy will include those shares of common stock held pursuant to the Plan. The Plan Agent will
forward to each Participant any proxy solicitation material received by it. In the case of stockholders, such as banks, brokers or nominees, which hold shares for others who are the beneficial owners, the Plan Agent will administer the Plan on the
basis of the number of shares certified from time to time by the stockholder as representing the total amount registered in the name of such Participants and held for the account of beneficial owners who participate in the Plan. Upon a
Participant&#146;s Internet, telephone or written request, the Plan Agent will deliver to her or him, without charge, a certificate or certificates representing all full shares of common stock held by the Plan Agent pursuant to the Plan for the
benefit of such Participant. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Participants will not be charged a fee in connection with the reinvestment of dividends or capital gains
distributions. The Plan Agent&#146;s transaction fees for the handling of the reinvestment of dividends and distributions will be paid by the Fund. However, Participants will be charged a per share fee (currently $0.05) incurred with respect to the
Plan Agent&#146;s open market purchases in connection with the reinvestment of dividends or capital gains distributions and with purchases from voluntary cash payments made by the Participant. A $2.50 transaction fee and a per share fee of $0.15
will also be charged by the Plan Agent upon any request for sale. Per share fees include any brokerage commissions the Plan Agent is required to pay. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">The automatic reinvestment of dividends and distributions will not relieve participants of any income tax which may be payable on such dividends and distributions. Participants will receive tax
information annually for their personal records and to help them prepare their federal income tax return. For further information as to tax consequences of participation in the Plan, Participants should consult with their own tax advisors.
</FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">These terms and conditions may be amended or supplemented by the Plan Agent or the Fund at any time or times but, except when necessary or
appropriate to comply with applicable law or the rules or policies of the Securities and Exchange Commission or any other regulatory authority, only by mailing to the Stockholders appropriate written notice at least 30 days prior to the effective
date thereof. The amendment or supplement shall be deemed to be accepted by the Participants unless, prior to the effective date thereof, the Plan Agent receives written notice of the termination of a Participant&#146;s account under the Plan. Any
such amendment may include an appointment by the Plan Agent in its place and stead of a successor Plan Agent under these terms and conditions, with full power and authority to perform all or any of the acts to be performed by the Plan Agent under
these terms and conditions. Upon any such appointment of a successor Plan Agent for the purposes of receiving dividends and distributions, the Fund </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">32 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>DIVIDENDS AND DISTRIBUTIONS: </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>SUMMARY OF DIVIDEND REINVESTMENT AND CASH PURCHASE PLAN (continued) </B></FONT></P> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P> <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">will be authorized to pay to such successor Plan Agent, for the Participants&#146; accounts, all dividends and distributions payable on the shares of common stock held in the Participants&#146; name or
under the Plan for retention or application by such successor Plan Agent as provided in these terms and conditions. </FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Requests for copies of the
Plan, which sets forth all of the terms of the Plan, and all correspondence concerning the Plan should be directed to Computershare Trust Company, N.A., the Plan Agent for The China Fund, Inc., in writing at P.O. Box 505000 Louisville, Kentucky
40233-5000, by telephone at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-426-5523</FONT></FONT></FONT> or via the Internet at www.computershare.com/investor. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">33 </FONT></P>



<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>THE CHINA FUND, INC. </B></FONT></P>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #873940">&nbsp;</P> <P STYLE="line-height:2px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #873940">&nbsp;</P>
<p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>United States Address </B></FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD WIDTH="41%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="57%"></TD></TR>


<TR STYLE="page-break-inside:avoid">
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The China Fund, Inc.</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">c/o&nbsp;State&nbsp;Street&nbsp;Bank&nbsp;and&nbsp;Trust&nbsp;Company</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">1 Lincoln St.</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">P.O. Box 5049</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Boston, MA 02206-5049</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">1-888-CHN-CALL</FONT></FONT></FONT> <FONT STYLE="white-space:nowrap">(246-2255)</FONT></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">On&nbsp;or&nbsp;after&nbsp;July&nbsp;1,&nbsp;2019&nbsp;please&nbsp;send&nbsp;correspondence&nbsp;to:</FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">The China Fund, Inc.</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">c/o Brown Brothers Harriman
&amp; Co.</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fund Administration, 7th Floor</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">50 Post Office Square</FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Boston, MA&nbsp;02110</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Directors and Officers </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Julian Reid, Chairman of the Board, Investment Committee, Discount Management Committee and Governance, Nomination&nbsp;&amp; Compensation Committee and Director </FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Richard Silver, Chairman of the Audit, Valuation and Compliance Committee and Director </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Linda C. Coughlin, Chairman of the Contracts Committee and Director </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Frank Wheeler, President
</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Patrick Keniston, Chief Compliance Officer </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Monique Labbe, Treasurer </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Brian Link, Secretary </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Investment Manager </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Matthews
International Capital Management, LLC </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Shareholder Servicing Agent </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">AST Fund Solutions </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Administrator, Accounting Agent and Custodian </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">State Street Bank and Trust Company </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Transfer Agent, Dividend Paying Agent and Registrar </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Computershare Trust Company, N.A. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Independent Registered Public Accounting Firm
</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Tait, Weller&nbsp;&amp; Baker, LLP </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Legal Counsel </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Morgan, Lewis&nbsp;&amp; Bockius LLP </FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Notice is hereby given in accordance with Section&nbsp;23(c) of the Investment Company Act of 1940 that from time to time the Fund may purchase shares of
its common stock in the open market at prevailing market prices. </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;2. Code of Ethics. </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not required for this filing. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;3. Audit
Committee Financial Expert. </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not required for this filing. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;4. Principal Accountant Fees and Services. </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not required for this filing. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;5. Audit
Committee of Listed Registrants. </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not required for this filing. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;6. Investments. </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">a.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Schedule of Investments is included as part of Item 1. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">b.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Not applicable. </P></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;7. Disclosure of Proxy Voting Policies and Procedures for <FONT STYLE="white-space:nowrap">Closed-End</FONT> Investment Companies.
</U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not required for this filing. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;8.&nbsp;Portfolio Managers of <FONT STYLE="white-space:nowrap">Closed-End</FONT> Management Investment Companies. </U></B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">a.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Not required for this filing. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">b.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Since the filing of the registrant&#146;s Annual Report dated October&nbsp;31, 2018, there is a new named
portfolio manager of the Fund. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of July&nbsp;1, 2019, the portfolio manager of the registrant is as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Andrew Mattock, CFA </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Portfolio Manager </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Investment experience: 23 Years </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Mattock joined
Matthews Asia in 2015. Mr.&nbsp;Mattock is U.S. based and has 20 years of experience investing in Asia and 24 years of industry experience. Prior to joining Matthews Asia, Mr.&nbsp;Mattock was a portfolio manager with Henderson Global Investors for
15 years. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of April&nbsp;30, 2019, Mr.&nbsp;Mattock managed and advised 1 mutual fund with a total of approximately US$ 904&nbsp;million in assets, 1 <FONT
STYLE="white-space:nowrap">closed-end</FONT> fund with a total of approximately US$ 255&nbsp;million in assets and 1 offshore fund with a total of approximately US$20&nbsp;million in assets. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Conflicts of Interest: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Matthews Asia has adopted a Code
of Ethics (the &#147;Code&#148;) as part of the firm&#146;s Compliance Program in order to mitigate and manage conflicts of interest that may exist or arise in connection with personal securities transactions by our officers and employees. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Below is a brief summary of the Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Code contains restrictions on personal securities transactions applicable to all our officers and employees and includes a standard of business conduct
requiring officers and employees: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">To comply with applicable laws; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">To report their personal securities transactions to our compliance department; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">To acknowledge their receipt of, and agreement to, observe the requirements of the Code; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">To report any violations of the Code to our Chief Compliance Officer (&#147;CCO&#148;). </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To reduce potential conflicts of interest, the Code prohibits all officers and employees from investing in the securities of Asia Pacific companies. Matthews
Asia&#146;s CCO, with the concurrence of its Enterprise Risk and Compliance Committee, may permit an employee to continue holding such securities if they were held prior to joining Matthews Asia. For purposes of the Code, an Asia Pacific security is
any security: (1)&nbsp;issued or guaranteed by a company that is organized under the laws of an Asia Pacific country; (2)&nbsp;traded in any market in an Asia Pacific country, or (3)&nbsp;issued or guaranteed by a governmental entity or an agency or
instrumentality or political subdivision of an Asia Pacific country. Asia Pacific securities include warrants, options or futures on or related to Asia Pacific securities, but do not include the shares of an
<FONT STYLE="white-space:nowrap">open-end</FONT> investment company registered under the 1940 Act and similarly structured foreign funds. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To further
reduce the potential for conflicts of interest between us and clients, the Code requires that all officers and employees: (1)&nbsp;obtain approval prior to making certain trades in their personal accounts; (2)&nbsp;submit regular reports of personal
transactions made in personal accounts; and (3)&nbsp;provide an annual report of all personal account holdings. These approvals and reports apply to accounts directly or beneficially held by our officers and employees (as well as certain persons
closely related to them). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The firm&#146;s Compliance Department provides guidance to employees concerning the application and interpretation of the
firm&#146;s compliance policies, including its Conflicts Policies and will provide training concerning the requirements of these policies to all new employees and to all employees at least annually. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Other Conflicts of Interest Related to Personal Trading and the Professional Activities of our Officers and Employees:</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Since we primarily invest in Asia Pacific companies for clients, the prohibitions under our Code significantly reduce, but do not eliminate, conflicts between
the personal trading of our officers and employees who are Access Persons and trading for our clients. Nevertheless, our officers&#146; and employees&#146; trading and professional activities may give rise to other potential conflicts of interest.
These are described below, along with a description of how we manage those potential conflicts of interest. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We act as investment manager to various
investment companies and other accounts. We may give advice and take action with respect to any funds or accounts, or for our own account, that may differ from action taken on behalf of other funds or accounts. We are not obligated to recommend, buy
or sell, or to refrain from recommending, buying or selling, any security that we or our officers and employees may buy or sell for our or their own account or for the accounts of any other client. While we are not obligated to refrain from
investing in securities held by funds or accounts that we manage, we do not ordinarily invest for our own account in Asia Pacific securities. We do sometimes invest for our own account in money market and short-term domestic fixed income securities.
Matthews Asia may also provide seed capital to investment companies and similar funds that we sponsor or manage. We manage conflicts with investing for our own account or our officers and employees investing for their accounts by requiring that any
transaction be made in compliance with our Code, as discussed above. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Because we manage more than one account, potential conflicts of interest may arise related to the amount of time
individuals devote to managing particular accounts. We may also have an incentive to favor accounts in the allocation of investment opportunities or otherwise treat preferentially those accounts that pay us a higher fee level or greater fees
overall. However, we do not charge performance-based fees to any client accounts, limiting our incentive to favor certain groups of accounts over others. Moreover, we have adopted procedures for allocation of portfolio transactions and investment
opportunities across multiple client accounts on a fair and equitable basis over time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Potential conflicts of interest may also arise in connection with
an employee&#146;s knowledge and the timing of transactions, investment opportunities, broker selection, portfolio holdings and investments, and the valuation of holdings or potential holdings. Some employees who have access to the size and timing
of transactions may have information concerning the market impact of transactions, including transactions for the Matthews Asia Funds. Employees may be in a position to use this information to their possible advantage or to the possible detriment of
our other client accounts. An investment opportunity may also be suitable for multiple accounts we manage, but not in sufficient quantities for all accounts to participate fully. Similarly, there may be limited opportunity to sell an investment held
by multiple accounts. We manage these potential conflicts with employee transactions by requiring that any transaction be made in compliance with our Code, and potential conflicts between client accounts through our procedures for allocating
portfolio transactions and investment opportunities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Employees (including their immediate family members) who invest in one of the funds managed by
Matthews Asia, including the Matthews Asia Funds, may have a conflict of interest in that they may have an incentive to treat that fund preferentially as compared to other accounts we manage. However, all portfolio management employees work as a
team and share research relevant to other investment mandates and client accounts. With certain exceptions, all accounts have equal access to investment opportunities. These exceptions may provide priority access to limited investment opportunities
for accounts that (1)&nbsp;invest in securities of small companies if no account we manage has previously invested in those securities; and (2)&nbsp;focus on a specific country or sector. Some of the accounts that receive priorities may pay us
higher fees than accounts that do not have a priority. Our investment team regularly reviews each account (for material dispersion of performance or other indicative factors). These practices help us detect and manage the potential conflict. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Compliance Department provides guidance to employees concerning the application and interpretation of the firm&#146;s Code of Ethics and will provide
training concerning the requirements of this policy to all new employees and to all employees at least annually. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As a matter of policy, Matthews Asia
does not comment on specific employee matters related to the personal securities transaction policy. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As a matter of firm policy, we do not disclose the
full Code of Ethics to external parties. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Compensation: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Employee compensation may consist of a combination of base salary, fixed and discretionary bonuses, and participation in benefit plans, which are generally
available to all salaried employees, including members of the investment team. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Key elements of compensation are detailed below: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><U>Base Salary</U>. Each employee receives a fixed base salary that takes into account his or her experience and
responsibilities and is intended to be competitive with salaries offered by other similar firms. A portfolio manager&#146;s base pay tends to increase with additional and more complex responsibilities. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><U>Bonus</U>. Matthews Asia emphasizes teamwork and a focus on client needs. Bonuses are structured to emphasize
those principles and are based on a number of factors including the profitability of Matthews Asia and the employee&#146;s contributions to the firm. For portfolio managers this includes the performance of accounts managed by the employee.
Performance over multiple time periods relative to the strategy&#146;s benchmark and peer group, and absolute performance over periods longer than five years, are typically included in this assessment. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><U>Benefit Programs</U>. Employees participate in benefit plans and programs available generally to all
employees. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><U>Other Compensation</U>. Portfolio managers may receive compensation in the form of equity interests in
Matthews Asia or cash payments based upon a percent of Matthews Asia&#146;s revenues. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Evaluation of portfolio managers and analysts
includes quantitative and qualitative metrics centered on the performance of the portfolios they manage. Portfolio managers&#146; performance is evaluated across multiple time periods with an emphasis on longer term investment periods. A portion of
bonus compensation paid to portfolio managers may be in the form of firm equity and shares of Matthews Asia&#146;s funds, in each case subject to deferral over a period of years. All portfolio managers are eligible to receive equity interests in the
firm. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Matthews Asia encourages investment professionals to invest in the strategies they manage and other Matthews Asia strategies, as a means to align
the interests of employees with the success of the firm and the interests of its clients. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Ownership of Securities: </B>The following table sets forth
the aggregate dollar range of the registrant&#146;s equity securities beneficially owned as of April&nbsp;30, 2019. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom"><B>Portfolio Manager</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>Dollar Range of Fund Shares Beneficially Owned</B></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Andrew Mattock</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">None</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;9. Purchases of Equity Securities by <FONT STYLE="white-space:nowrap">Closed-End</FONT>
Management Investment Company and Affiliated Purchasers. </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">During the six month period ended April&nbsp;30, 2019, the following purchases were made
by or on behalf of the Fund as that term is defined in Rule <FONT STYLE="white-space:nowrap">10b-18</FONT> under the Exchange Act. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; ">Period</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">(a)&nbsp;Total&nbsp;Number<BR>of&nbsp;Shares&nbsp;(or&nbsp;Units)<BR>Purchased</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">(b)&nbsp;Average Price&nbsp;Paid&nbsp;per<BR>Share&nbsp;(or&nbsp;Unit)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">(c)&nbsp;Total&nbsp;Number&nbsp;of<BR>Shares&nbsp;(or&nbsp;Units)<BR>Purchased&nbsp;as&nbsp;Part&nbsp;of<BR>Publicly&nbsp;Announced<BR>Plans&nbsp;or&nbsp;
Programs</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">(d)&nbsp;Maximum&nbsp;Number&nbsp;(or<BR>Approximate&nbsp;Dollar<BR>Value)&nbsp;of&nbsp;Shares&nbsp;(or&nbsp;Units)<BR>that&nbsp;May&nbsp;Yet<BR>Be&nbsp;
Purchased&nbsp;Under<BR>the&nbsp;Plans<BR>or&nbsp;Programs</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">November&nbsp;1, 2018 through November&nbsp;30, 2018</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">N/A</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,100,587</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">December&nbsp;1, 2018 through December&nbsp;31, 2018</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">N/A</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,100,587</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">January&nbsp;1, 2019 through January&nbsp;31, 2019</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">N/A</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,100,587</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">February&nbsp;1, 2019 through February&nbsp;28, 2019</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">124,702</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">19.63</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">124,702</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">975,885</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">March&nbsp;1, 2019 through March&nbsp;31, 2019</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58,758</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20.15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58,758</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">917,127</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">April&nbsp;1, 2019 through April&nbsp;30, 2019</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,422</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">21.21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,422</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">906,705</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>193,882</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>20.51</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>193,882</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>906,705</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under the Fund&#146;s Discount Management Policy, which was launched on February&nbsp;21, 2019, the Fund is authorized to
repurchase in each twelve-month period ended October&nbsp;31 up to 10% of its common shares outstanding as of the close of business on October&nbsp;31 of the prior year. Shares are generally repurchased on any day that the Fund&#146;s shares are
trading at a discount that exceeds 9.5% (&#147;Discount Threshold&#148;). The Discount Threshold may be increased or decreased by the Board or its Discount Management Committee at any time. All of the purchases listed above were under the
Fund&#146;s Discount Management Policy. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;10. Submission of Matters to a Vote of Security Holders. </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant&#146;s Board of Directors during the
period covered by this Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> filing. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;11. Controls and Procedures. </U></B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The registrant&#146;s principal executive and principal financial officers have concluded that the
registrant&#146;s disclosure controls and procedures (as defined in Rule <FONT STYLE="white-space:nowrap">30a-3(c)</FONT> under the Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;) (17 CFR
<FONT STYLE="white-space:nowrap">270.30a-3(c)))</FONT> are effective, as of a date within 90 days of the filing date of this Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> based on their evaluation of these controls and procedures required by
Rule <FONT STYLE="white-space:nowrap">30a-3(b)</FONT> under the 1940 Act (17 CFR <FONT STYLE="white-space:nowrap">270.30a-3(b))</FONT> and Rules <FONT STYLE="white-space:nowrap">13a-15(b)</FONT> or <FONT STYLE="white-space:nowrap">15d-15(b)</FONT>
under the 1934 Act (17 CFR <FONT STYLE="white-space:nowrap">240.13a-15(b)</FONT> or <FONT STYLE="white-space:nowrap">240.15d-15(b)).</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">There were no changes in the registrant&#146;s internal control over financial reporting (as defined in Rule <FONT
STYLE="white-space:nowrap">30a-3(d)</FONT> under the 1940 Act (17 CFR <FONT STYLE="white-space:nowrap">270.30a-3(d)))</FONT> that occurred during the registrant&#146;s second fiscal quarter that has materially affected, or is reasonably likely to
materially affect, the registrant&#146;s internal control over financial reporting. </P></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;12. Disclosure of Securities Lending Activities for
<FONT STYLE="white-space:nowrap">Closed-End</FONT> Management Investment Companies. </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Gross income from securities lending activities: $298,351 </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">All fees and/or compensation for each of the following securities lending activities and related services:
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">i.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any share of revenue generated by the securities lending program paid to the securities lending agent(s)
(&#147;revenue split&#148;): $31,174 </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">ii.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">fees paid for cash collateral management services (including fees deducted from a pooled cash collateral
reinvestment vehicle) that are not included in the revenue split: $1,981 </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">iii.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">administrative fees that are not included in the revenue split: $0 </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">iv.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">fees for indemnification that are not included in the revenue split: $0 </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">v.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">rebates paid to borrowers: $81,485 </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">vi.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">any other fees relating to the securities lending program that are not included in the revenue split, including
a description of those other fees: $0 </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Aggregate fees/compensation: $114,639 </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Net income from securities lending activities: $183,713 </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The Fund may lend up to 33 1/3% of the Fund&#146;s total assets held by State Street Bank and Trust Company
(&#147;State Street&#148;), as custodian, to certain qualified brokers, except those securities which the Fund or the Investment Manager specifically identifies as not being available. By lending its investment securities, the Fund attempts to
increase its net investment income through the receipt of interest on the loan. Any gain or loss in the market price of the securities loaned that might occur and any interest or dividends declared during the term of the loan would accrue to the
account of the Fund. Risks of delay in recovery of the securities or even loss of rights in the collateral may occur should the borrower of the securities fail financially. Risks may also arise to the extent that the value of the collateral
decreases below the value of the securities loaned. Upon entering into a securities lending transaction, the Fund receives cash or other securities as collateral in an amount equal to or exceeding 100% of the current market value of the loaned
securities with respect to securities of the U.S. government or its agencies, 102% of the current market value of the loaned securities with respect to U.S. securities and 105% of the current market value of the loaned securities with respect to
foreign securities. Any cash received as collateral is generally invested by State Street, acting in its capacity as securities lending agent (the &#147;Agent&#148;), in the State Street Navigator Securities Lending Government Money Market
Portfolio. <FONT STYLE="white-space:nowrap">Non-cash</FONT> collateral is not disclosed in the Fund&#146;s Statement of Assets and Liabilities as it is held by the lending agent on behalf of the Fund and the Fund does not have the ability to <FONT
STYLE="white-space:nowrap">re-hypothecate</FONT> those securities. A portion of the dividends received on the collateral may be rebated to the borrower of the securities and the remainder is split between State Street, as the securities lending
agent, and the Fund. </P></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;13. Exhibits. </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>(a)(1)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Not required for this filing.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>(a)(2)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">The certifications required by Rule <FONT STYLE="white-space:nowrap">30a-2</FONT> of the 1940 Act are attached hereto.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>(a)(3)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">The written solicitation under Rule <FONT STYLE="white-space:nowrap">23c-1</FONT> of the 1940 Act is attached hereto.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>(a)(4)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Not applicable.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>(b)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">The certifications required by Rule <FONT STYLE="white-space:nowrap">30a-2(b)</FONT> of the 1940 Act and Section&nbsp;906 of the Sarbanes-Oxley Act of 2002 are attached hereto.</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THE CHINA FUND, INC. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Frank Wheeler</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Frank Wheeler</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">President of The China Fund, Inc.</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: July 1, 2019 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to
the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Frank Wheeler</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Frank Wheeler</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">President of The China Fund, Inc.</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: July 1, 2019 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Monique Labbe</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Monique Labbe</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Treasurer of The China Fund, Inc.</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: July 1, 2019 </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.302CERT
<SEQUENCE>2
<FILENAME>d718248dex99302cert.htm
<DESCRIPTION>SECTION 302 CERTIFICATIONS
<TEXT>
<HTML><HEAD>
<TITLE>Section 302 Certifications</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 13(a)(2) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I, Frank Wheeler, President of The China Fund, Inc., certify that: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">I have reviewed this report on Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> of The China Fund, Inc.;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The registrant&#146;s other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule <FONT STYLE="white-space:nowrap">30a-3(c)</FONT> under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule
<FONT STYLE="white-space:nowrap">30a-3(d)</FONT> under the Investment Company Act of 1940) for the registrant and have: </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that
occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s auditors and
the audit committee of the registrant&#146;s board of directors (or persons performing the equivalent functions): </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant&#146;s ability to record, process, summarize, and report financial information; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant&#146;s internal control over financial reporting. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: July 1, 2019 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Frank Wheeler</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Frank Wheeler</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">President (principal executive officer) of<BR>The China Fund, Inc.</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I, Monique Labbe, Treasurer of The China Fund, Inc., certify that: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">I have reviewed this report on Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> of The China Fund. Inc.;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The registrant&#146;s other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule <FONT STYLE="white-space:nowrap">30a-3(c)</FONT> under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule
<FONT STYLE="white-space:nowrap">30a-3(d)</FONT> under the Investment Company Act of 1940) for the registrant and have: </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that
occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s auditors and
the audit committee of the registrant&#146;s board of directors (or persons performing the equivalent functions): </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant&#146;s ability to record, process, summarize, and report financial information; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant&#146;s internal control over financial reporting. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: July 1, 2019 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Monique Labbe</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Monique Labbe</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Treasurer (principal financial officer) of<BR>The China Fund, Inc.</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.RULE23C1
<SEQUENCE>3
<FILENAME>d718248dex99rule23c1.htm
<DESCRIPTION>THE WRITTEN SOLICITATION UNDER RULE 23C-1
<TEXT>
<HTML><HEAD>
<TITLE>The written solicitation under Rule 23c-1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 13(a)(3) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OFFER TO REPURCHASE FOR CASH </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BY </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE CHINA FUND, INC.
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>UP TO 30 OF ITS ISSUED AND OUTSTANDING SHARES OF COMMON STOCK </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AT 99% OF NET ASSET VALUE PER SHARE </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 11:59 P.M., NEW YORK TIME FEBRUARY&nbsp;4, 2019, UNLESS THE OFFER IS EXTENDED </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>THIS OFFER TO REPURCHASE AND THE ACCOMPANYING LETTER OF TRANSMITTAL TOGETHER CONSTITUTE THE &#147;OFFER&#148;. THE OFFER IS BEING EXTENDED TO ALL
STOCKHOLDERS OF THE CHINA FUND, INC. AND IS NOT CONDITIONED ON ANY MINIMUM NUMBER OF SHARES BEING TENDERED, BUT IS SUBJECT TO OTHER CONDITIONS AS OUTLINED HEREIN AND IN THE LETTER OF TRANSMITTAL. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>THE FUND HAS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION (THE &#147;COMMISSION&#148;) AN ISSUER TENDER OFFER STATEMENT ON SCHEDULE TO UNDER THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (THE &#147;EXCHANGE ACT&#148;), RELATING TO THE OFFER. </B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>To the Stockholders of The China Fund, Inc.:
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The China Fund, Inc., a Maryland corporation (the &#147;Fund&#148;), registered under the Investment Company Act of 1940, as amended (the &#147;1940
Act&#148;), as a <FONT STYLE="white-space:nowrap">non-diversified,</FONT> <FONT STYLE="white-space:nowrap">closed-end</FONT> management investment company, hereby offers to purchase up to 30% of the Fund&#146;s issued and outstanding shares of
common stock, par value $0.01 per share (the &#147;Shares&#148;), or 4,716,803 Shares in the aggregate (the &#147;Offer Amount&#148;), at a price (the &#147;Purchase Price&#148;) per Share, net to the seller in cash, equal to 99% of the net asset
value (&#147;NAV&#148;) per Share in U.S. dollars as of the close of regular trading on the New York Stock Exchange (the &#147;NYSE&#148;) on February&nbsp;5, 2019, or the next business day following such later date to which the Offer is extended
(the &#147;Pricing Date&#148;), upon the terms and subject to the conditions set forth in this Offer to Repurchase and in the related Letter of Transmittal. The Offer will expire at 11:59 p.m., New York time on February&nbsp;4, 2019 (the
&#147;Termination Date&#148;), or such later date to which the Offer is extended (the &#147;Extended Termination Date&#148;). The depositary for the Offer is Computershare Trust Company, N.A. (the &#147;Depositary&#148;) and the information agent
for the Offer is AST Fund Solutions, LLC (the &#147;Information Agent&#148;). The Fund mailed materials for the Offer to record holders on or about January&nbsp;4, 2019. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The Offer is not being made to (nor will tenders be accepted from or on behalf of) holders of Shares in any jurisdiction in which the making of the Offer
or the acceptance thereof would not be in compliance with the laws of such jurisdiction. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As of December&nbsp;28, 2018, there were 15,722,675 Shares
issued and outstanding, and the NAV was $18.57 per Share. The Fund does not expect that the number of Shares issued and outstanding will be materially different on the Termination Date. Stockholders may contact the Information Agent at <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">888-644-6071</FONT></FONT> (toll free) or <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">201-806-7301</FONT></FONT> (collect call) or contact the Fund directly at <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">888-246-2255</FONT></FONT> to obtain current NAV quotations for the Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any stockholder
of the Fund (each a &#147;Stockholder&#148;) desiring to tender any portion of his or her Shares should either (1)&nbsp;complete and sign the Letter of Transmittal or a facsimile thereof in accordance with the instructions in the Letter of
Transmittal, and mail or deliver the Letter of Transmittal or such facsimile with his or her certificates for the tendered Shares if such Stockholder has been issued physical certificates, signature guarantees for all Stockholders tendering
uncertificated Shares, and any other required documents to the Depositary, or (2)&nbsp;request his or her broker, dealer, commercial bank, trust company or other nominee to effect the transaction for him or her. Stockholders having Shares registered
in the name of a broker, dealer, commercial bank, trust company or other nominee must contact such broker, dealer, commercial bank, trust company or other nominee if they desire to tender Shares so registered. The Fund reserves the absolute right to
reject tenders determined not to be in appropriate form. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you do not wish to tender your Shares, you need not take any action. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tendering Stockholders will not be obligated to pay brokerage fees or commissions to the Fund or Depositary in connection with their participating in the
Offer, but they may be charged fees by their broker, dealer, commercial bank, trust company or other nominee for processing their tender. Subject to Instruction 7 of the Letter of Transmittal, tendering Stockholders may be obligated to pay transfer
taxes on the purchase of Shares by the Fund; Stockholders may also be subject to other transaction costs, as described in Section&nbsp;1 of this Offer to Repurchase. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The Offer has been unanimously approved by the Board of Directors of the Fund (the &#147;Board&#148;). However, none of the Fund, its executive officers,
the Board, the Fund&#146;s investment adviser, Matthews International Capital Management, LLC (&#147;Matthews Asia&#148;&#148;), or any affiliate of the Fund makes any recommendation to any Stockholder regarding his or her participation in the
Offer. Members of the Board who are also Stockholders may elect to participate in the Offer. None of the executive officers of the Fund or Matthews Asia intends to participate in the Offer. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>No person has been authorized to make any recommendation on behalf of the Fund, its executive officers, the Board or Matthews Asia as to whether any
Stockholder should participate in the Offer or to make any representation or to give any information in connection with the Offer other than as contained herein. If made or given, any such recommendation, representation or information must not be
relied upon as having been authorized by the Fund, its executive officers, the Board or Matthews Asia. Stockholders are urged to evaluate carefully all information in this Offer to Repurchase and the related documents, consult their own investment
and tax advisers and make their own decisions whether to tender their shares for repurchase or refrain from participating in the Offer. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NEITHER
THE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED OF THIS OFFER, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR DETERMINED WHETHER THIS OFFER TO REPURCHASE IS ACCURATE OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY
IS A CRIME. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Questions, requests for assistance and requests for additional copies of this Offer to Repurchase and the Letter of Transmittal may be
directed to the Information Agent in the manner set forth on the last page of this Offer to Repurchase. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">January&nbsp;4, 2019 </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONTENTS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="95%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><B>Page</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Summary Term Sheet</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U></U><U></U><U></U>Terms of the Offer; Termination Date.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U></U><U></U><U></U>Acceptance for Payment and Payment for Shares.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U></U><U></U><U></U>Procedure for Tendering Shares.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U></U><U></U><U></U>Rights of Withdrawal.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U></U><U></U><U></U>Source and Amount of Funds; Effect of the Offer.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U></U><U></U><U></U>Purpose of the Offer.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U></U><U></U><U></U>NAV and Market Price Range of Shares.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U></U><U></U><U></U>U.S. Federal Income Tax Consequences of the Offer.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">9.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U></U><U></U><U></U>Selected Financial Information.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U></U>Certain Information Concerning the Fund and the Fund&#146;s Investment Adviser.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">11.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U></U>Interest of Directors and Officers; Transactions and Arrangements Concerning the
Shares.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">12.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U></U>Certain Legal Matters; Regulatory Approvals.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">13.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U></U>Certain Conditions of the Offer.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">14.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U></U>Fees and Expenses.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">15.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U></U>Miscellaneous.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">16.</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><U></U>Contacting the Depositary and the Information Agent.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- i - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SUMMARY TERM SHEET </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Summary Term Sheet highlights certain information concerning this Offer. To understand the Offer fully and for a more complete discussion of the terms
and conditions of the Offer, you should read carefully the entire Offer to Repurchase and the related Letter of Transmittal. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>What is the Offer?</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Fund is offering to purchase up to 30% of its issued and outstanding Shares in the aggregate, for cash at the Purchase Price per Share
equal to 99% of the NAV per Share as of the close of regular trading on the NYSE on February&nbsp;5, 2019 (or, if the Offer is extended, on the following business day after the date to which the Offer is extended) upon specified terms and subject to
conditions as set forth in the Offer documents. See Section&nbsp;1 of this Offer to Repurchase. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>When will the Offer expire, and may the Offer be extended?</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Offer will expire at 11:59 p.m., New York time, on February&nbsp;4, 2019, unless extended by the Fund. The Fund, in its sole discretion,
may extend the period of time the Offer will be open by issuing a press release or making some other public announcement by no later than 9:00 a.m., New York time, on the next business day after the Offer otherwise would have expired. See
Section&nbsp;1 of this Offer to Repurchase. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>What is the NAV per Share as of a recent date?</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">As of December&nbsp;28, 2018, the NAV per Share was $18.57. See Section&nbsp;7 of this Offer to Repurchase for details. During the pendency of
the Offer, current NAV quotations can be obtained from the Information Agent by calling <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">888-644-6071</FONT></FONT> (toll free) or <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">201-806-7301</FONT></FONT> (collect call) or by calling the Fund&#146;s toll free number at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">888-246-2255.</FONT></FONT> </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>Will the NAV be higher or lower on the date that the price to be paid for tendered Shares is to be
determined?</I> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">No one can accurately predict the NAV at a future date. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>How do I tender my Shares?</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">If your Shares are registered in your name, you should obtain the Offer materials, including the Offer to Repurchase and the related Letter of
Transmittal, read them, and if you should decide to tender, complete a Letter of Transmittal and submit any other documents required by the Letter of Transmittal. In addition, either the certificate for Shares must be transmitted to and received by
the Depositary at one of its addresses set forth on the last page of this Offer, or the tendering Stockholder must comply with the Book-Entry Delivery Procedure. These materials must be received by the Depositary in proper form before 11:59 p.m.,
New York time, on the Termination Date, unless the Offer is extended by the Fund in which case the Extended Termination Date will be as stated in a public announcement of the extension. If your Shares are held by a broker, dealer, commercial bank,
trust company or other nominee (e.g., in &#147;street name&#148;), you should contact that firm to obtain the package of information necessary to make your decision; if you should decide to tender, you can only tender your Shares by directing that
firm to complete, compile and deliver the necessary documents for submission to the Depositary by the Termination Date or, if the Offer is extended, the Extended Termination Date. See Section&nbsp;3 of this Offer to Repurchase. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>Is there any cost to me to tender?</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">No fees or commission will be payable to the Fund in connection with the Offer. However, brokers, dealers or other persons may charge
Stockholders a fee for soliciting tenders for Shares pursuant to this Offer. Stockholders may be obligated to pay transfer taxes on the purchase of Shares by the Fund and other transaction costs. See Instruction 7 of the Letter of Transmittal. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 1 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>May I tender Shares in the Offer held in my Dividend Reinvestment and Cash Purchase Plan account?</I>
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Yes. Holders of Shares in the Fund&#146;s Dividend Reinvestment and Cash Purchase Plan may tender their Shares by
completing the appropriate section of the Letter of Transmittal or Notice of Guaranteed Delivery. See Section&nbsp;3 of this Offer to Repurchase. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>May I withdraw my Shares after I have tendered them and, if so, by when?</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Yes, you may withdraw your Shares at any time prior to 11:59 p.m. on the Termination Date (or if the Offer is extended, at any time prior to
the expiration time on the Extended Termination Date). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Withdrawn Shares may be <FONT STYLE="white-space:nowrap">re-tendered</FONT> by
following the tender procedures before the Offer expires (including any extension period). See Section&nbsp;4 of this Offer to Repurchase. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>How do I withdraw tendered Shares?</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">A notice of withdrawal of tendered Shares must be timely received by the Depositary (as described in the previous paragraph), which specifies
the name of the Stockholder who tendered the Shares, the number of Shares being withdrawn (which must be all of the Shares tendered) and, as regards Share certificates which represent tendered Shares that have been delivered or otherwise identified
to Computershare, the name of the registered owner of such Shares if different than the person who tendered the Shares. See Section&nbsp;4 of this Offer to Repurchase. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>May I place any conditions on my tender of Shares?</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">No. See Instruction 2 of the Letter of Transmittal. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>Is there a maximum number of Shares that I may tender?</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">No. See Section&nbsp;1 of this Offer to Repurchase. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>What if more than </I>4,716,803<I> Shares are tendered (and not timely withdrawn)?</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Fund will purchase duly tendered Shares from tendering Stockholders pursuant to the terms and conditions of the Offer on a<I>&nbsp;pro
rata</I>&nbsp;basis (disregarding fractions) in accordance with the number of Shares tendered by each Stockholder (and not timely withdrawn), unless the Fund determines not to purchase any Shares. The Fund&#146;s present intention, if the Offer is
oversubscribed, is not to purchase more than 4,716,803 Shares. See Section&nbsp;1 of this Offer to Repurchase. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>If I decide not to tender, how will the Offer affect the Fund Shares I hold?</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Your percentage ownership interest in the Fund will increase after completion of the Offer. The asset size of the Fund will decrease as a
result of the Offer, which is likely to result in a higher expense ratio for the Fund, and possibly in less investment flexibility for the Fund, depending on the number of Shares repurchased. Additionally, a reduction in the number of Shares issued
and outstanding may reduce the volume of trading in the Shares and make it more difficult to buy or sell significant amounts of Shares without affecting the market price. See Section&nbsp;5 of this Offer to Repurchase. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>Is the Offer the only way I can sell my Shares?</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">No. You will continue to be able to sell your Shares, or purchase additional Shares, at the current market price, in cash transactions on the
NYSE. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>Does the Fund have the financial resources to make payment?</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Yes. The Fund does not expect to borrow money to finance the purchase of any tendered Shares. See Section&nbsp;5 of this Offer to Repurchase.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 2 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>If Shares I tender are accepted by the Fund, when will payment be made? </I></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Payment for tendered Shares, if accepted, will be made promptly after the Termination Date. See Section&nbsp;2 of this Offer to Repurchase.
</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>Is my sale of Shares in the Offer a taxable transaction? </I></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">For most Stockholders, yes. All U.S. Stockholders other than those who are tax exempt who sell Shares in the Offer will recognize gain or loss
for U.S. federal income tax purposes equal to the difference between the cash they receive for the Shares sold and their adjusted basis in the Shares. The sale date for U.S. federal income tax purposes will be the date the Fund accepts Shares for
purchase. See Section&nbsp;8 of this Offer to Repurchase for details, including the nature of the income or loss and the differing rules for U.S. and Foreign Stockholders. Please consult your tax adviser as well. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>Is the Fund required to complete the Offer and purchase all Shares tendered up to the number of Shares
tendered for? </I></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Under most circumstances, yes. There are certain circumstances, however, in which the Fund will not be
required to purchase any Shares tendered as described in Section&nbsp;13 of this Offer to Repurchase. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>Is there any reason Shares tendered would not be accepted? </I></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Fund may extend, amend or terminate the Offer at any time up to and including the Termination Date in its sole discretion. See
Section&nbsp;1 of this Offer to Repurchase. Furthermore, and in addition to those circumstances described in Section&nbsp;13 of this Offer to Repurchase in which the Fund is not required to accept tendered Shares, the Fund has reserved the right to
reject any and all tenders determined by it not to be in appropriate form. Tenders will be rejected if the tender does not include the original signature(s) or the original of any required signature guarantee(s). </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>How will tendered Shares be accepted for payment? </I></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Properly tendered Shares, up to the number tendered for, will be accepted for payment by a determination of the Fund followed by notice of
acceptance to the Depositary which is thereafter to make payment as directed by the Fund with funds to be deposited with it by the Fund. See Section&nbsp;2 of this Offer to Repurchase. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>What action need I take if I decide not to tender my Shares? </I></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">None. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>Does management encourage Stockholders to participate in the Offer, and will they participate in the Offer?
</I></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">No. The Fund, the Board and Matthews Asia are not making any recommendation to tender or not to tender Shares in the
Offer. Some or all of the members of the Board may elect to participate in the Offer. None of the executive officers of the Fund or Matthews Asia intends to participate in the Offer. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="3%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>How do I obtain additional information? </I></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Questions and requests for assistance should be directed to the Information Agent, at <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">888-644-6071</FONT></FONT> (toll free) or <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">201-806-7301</FONT></FONT> (collect call). Requests for additional copies of the Offer to Repurchase, the Letter
of Transmittal and all other Offer documents should also be directed to the Information Agent for the Offer, at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">888-644-6071</FONT></FONT> (toll free) or <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">201-806-7301</FONT></FONT> (collect call). If you do not own Shares directly, you should obtain this information and the documents from your broker, dealer, commercial bank, trust company
or other nominee, as appropriate. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 3 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Terms of the Offer; Termination Date.</B> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Upon the terms and subject to the conditions set forth in the Offer, the Fund will accept for payment, and pay for, up to 30% of the Fund&#146;s outstanding
Shares validly tendered on or prior to 11:59 p.m., New York time, on the Termination Date, or, if the offer is extended, the Extended Termination Date, and not withdrawn as permitted by Section&nbsp;4. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the number of Shares properly tendered and not withdrawn prior to the Termination Date is less than or equal to the Offer Amount, the Fund will, upon the
terms and conditions of the Offer, purchase all Shares so tendered. If more than 4,716,803 Shares are duly tendered pursuant to the Offer (and not withdrawn as provided in Section&nbsp;4), unless the Fund determines not to purchase any Shares, the
Fund will purchase Shares from tendering Stockholders, in accordance with the terms and conditions specified in the Offer, on a<I>&nbsp;pro rata</I>&nbsp;basis (disregarding fractions), in accordance with the number of Shares duly tendered by or on
behalf of each Stockholder (and not so withdrawn). The Fund does not contemplate extending the Offer and increasing the number of Shares covered thereby by reason of more than 4,716,803 Shares having been tendered. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Stockholders should consider the relative costs of tendering Shares at a 1% discount to NAV pursuant to the Offer or selling Shares at the market price with
the associated transaction costs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund expressly reserves the right, in its sole discretion, at any time or from time to time, to extend the period
of time during which the Offer is open by giving oral or written notice of such extension to the Depositary. Any such extension will also be publicly announced by press release issued no later than 9:00 a.m., New York time, on the next business day
after the previously scheduled Termination Date. The Fund also expressly reserves the right, at any time and from time to time up to and including the Termination Date, to (a)&nbsp;withdraw the Offer and not to purchase or pay for any Shares or
(b)&nbsp;amend the Offer in any respect by making a public announcement thereof. Without limiting the manner in which the Fund may choose to make a public announcement of extension, termination or amendment, the Fund will have no obligation to
publish, advertise or otherwise communicate any such public announcement, except as provided by applicable law (including Rule <FONT STYLE="white-space:nowrap">13e-4(d)(2),</FONT> Rule <FONT STYLE="white-space:nowrap">13e-4(e)(3)</FONT> and Rule <FONT
STYLE="white-space:nowrap">14e-1(d)</FONT> under the Exchange Act) and the requirements of the NYSE. If the Fund makes a material change in the terms of the Offer or the information concerning the Offer, or if it waives a material condition of the
Offer, the Fund will extend the Offer to the extent required by Rules <FONT STYLE="white-space:nowrap">13e-4(e)(3)</FONT> and <FONT STYLE="white-space:nowrap">13e-4(f)(1)</FONT> under the Exchange Act. During any extension, all Shares previously
tendered and not withdrawn will remain subject to the Offer, subject to the right of a tendering Stockholder to withdraw his or her Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Subject to
the terms and conditions of the Offer, the Fund will pay the consideration offered or return the tendered securities promptly after the termination or withdrawal of the Offer. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Acceptance for Payment and Payment for Shares.</B> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Upon the terms and subject to the conditions of the Offer, the Fund will accept for payment, and will pay for, Shares validly tendered on or before the
Termination Date, and not properly withdrawn in accordance with Section&nbsp;4, promptly after the Termination Date. In all cases, payment for Shares tendered and accepted for payment pursuant to the Offer will be made only after timely receipt by
the Depositary of certificates for such Shares (unless such Shares are held in uncertificated form), a properly completed and duly executed Letter of Transmittal (or facsimile thereof), and any other documents required by the Letter of Transmittal.
The Fund expressly reserves the right, in its sole discretion, to delay the acceptance for payment of, or payment for, Shares, in order to comply, in whole or in part, with any applicable law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For purposes of the Offer, the Fund will be deemed to have accepted for payment Shares validly tendered and not withdrawn as provided in Section&nbsp;4, if
and when the Fund gives oral or written notice to the Depositary of its acceptance for payment of such Shares pursuant to the Offer. Payment for Shares accepted for payment pursuant </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 4 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">to the Offer will be made by deposit of the aggregate Purchase Price therefor with the Depositary, which will act
as agent for the tendering Stockholders for the purpose of receiving payments from the Fund and transmitting such payments to the tendering Stockholders. Under no circumstances will interest on the Purchase Price for Shares be paid, regardless of
any delay in making such payment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If any tendered Shares are not accepted for payment pursuant to the terms and conditions of the Offer for any reason,
or are not paid because of an invalid tender, or if certificates are submitted for more Shares than are tendered (i)&nbsp;certificates for such unpurchased Shares will be returned, without expense to the tendering Stockholder, as soon as practicable
following expiration or termination of the Offer, (ii)&nbsp;Shares delivered pursuant to the Book-Entry Delivery Procedure (as defined in Section&nbsp;3 below) will be credited to the appropriate account maintained within the appropriate Book-Entry
Transfer Facility (as defined in Section&nbsp;3 below) and (iii)&nbsp;uncertificated Shares held by the Fund&#146;s transfer agent pursuant to the Fund&#146;s Dividend Reinvestment and Cash Purchase Plan will be returned to the Dividend Reinvestment
and Cash Purchase Plan account maintained by the transfer agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the Fund is delayed in its acceptance for payment of, or in its payment for, Shares,
or is unable to accept for payment or pay for Shares pursuant to the Offer for any reason, then, without prejudice to the Fund&#146;s rights under this Offer, the Depositary may, on behalf of the Fund, retain tendered Shares, and such Shares may not
be withdrawn unless and except to the extent tendering Stockholders are entitled to withdrawal rights as described in Section&nbsp;4. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Purchase Price
of the Shares will equal 99% of their NAV (a 1% discount) as of the close of regular trading on the NYSE on the Pricing Date. Tendering Stockholders will not be obligated to pay brokerage fees or commissions to the Fund or Depositary in connection
with their participating in the Offer, but they may be charged fees by their broker, dealer, commercial bank, trust company or other nominee for processing their tender. Subject to Instruction 7 of the Letter of Transmittal, tendering Stockholders
may be obligated to pay transfer taxes on the purchase of Shares by the Fund; Stockholders may also be subject to other transaction costs, as described in Section&nbsp;1 of this Offer to Repurchase. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund normally calculates the NAV of its Shares no less frequently than the close of regular trading on the NYSE on the last business day of each week by
dividing the value of the net assets of the Fund (the value of its assets less its liabilities) by the total number of Shares outstanding. On December&nbsp;28, 2018, the NAV was $18.57 per Share. The Shares are listed on the NYSE. On
December&nbsp;28, 2018, the last sales price at the close of regular trading on the NYSE was $16.87 per Share. The NAV of the Fund&#146;s Shares will be available daily through the Termination Date, through the Fund&#146;s Information Agent toll
free at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">888-644-6071</FONT></FONT> or through the Fund&#146;s toll free number at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">888-246-2255.</FONT></FONT> </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Procedure for Tendering Shares.</B> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Proper Tender of Shares.</I><I></I>&nbsp;Stockholders having Shares that are registered in the name of a broker, dealer, commercial bank, trust company or
other nominee should contact such firm if they desire to tender their Shares. For a Stockholder to validly tender Shares pursuant to the Offer, (a)(i) a properly completed and duly executed Letter of Transmittal (or facsimile thereof), together with
any required signature guarantees, and any other documents required by the Letter of Transmittal, must be transmitted to and received by the Depositary at one of its addresses set forth on the last page of this Offer to Repurchase, and
(ii)&nbsp;either the certificate for Shares must be transmitted to and received by the Depositary at one of its addresses set forth on the last page of this Offer, or the tendering Stockholder must comply with the Book-Entry Delivery Procedure set
forth in this Section&nbsp;3, or (b)&nbsp;Stockholders must comply with the Guaranteed Delivery Procedure set forth in this Section&nbsp;3, in all cases prior to the Termination Date or, if the offer is extended, the Extended Termination Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund&#146;s transfer agent holds Shares in uncertificated form for certain Stockholders pursuant to the Fund&#146;s Dividend Reinvestment and Cash
Purchase Plan. Stockholders may tender such uncertificated Shares by completing the appropriate section of the Letter of Transmittal or Notice of Guaranteed Delivery. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 5 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;14(e) of the Exchange Act and Rule <FONT STYLE="white-space:nowrap">14e-4</FONT> promulgated
thereunder make it unlawful for any person, acting alone or in concert with others, to tender shares in a partial tender offer for such person&#146;s own account unless at the time of the tender, and at the time the shares are accepted for payment,
the person tendering (i)&nbsp;has a net long position equal to or greater than the amount tendered in shares, and will deliver or cause to be delivered such shares for the purpose of tender to the person making the offer within the period specified
in the offer and (ii)&nbsp;will deliver or cause the Shares to be delivered in accordance with the terms of the Offer. Section&nbsp;14(e) and Rule <FONT STYLE="white-space:nowrap">14e-4</FONT> provide a similar restriction applicable to the tender
or guarantee of a tender on behalf of another person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The acceptance of Shares by the Fund for payment will constitute a binding agreement between the
tendering Stockholder and the Fund upon the terms and subject to the conditions of the Offer, including the tendering Stockholder&#146;s representation that the Stockholder has a net long position in the Shares being tendered within the meaning of
Rule <FONT STYLE="white-space:nowrap">14e-4</FONT> and that the tender of such Shares complies with Rule <FONT STYLE="white-space:nowrap">14e-4.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Signature Guarantees.</I><I></I>&nbsp;Signatures on Letters of Transmittal must be guaranteed by a member firm of a registered national securities
exchange, a member of the Financial Industry Regulatory Authority, a commercial bank, credit union, savings association or trust company having an office, branch or agency in the United States, or other entity which is a member in good standing of a
stock transfer association&#146;s approved medallion program (each an &#147;Eligible Institution&#148;) unless (i)&nbsp;the Letter of Transmittal is signed by the registered holder of the Shares tendered, including those Stockholders who are
participants in a Book-Entry Transfer Facility (as defined below) and whose name appears on a security position listing as the owner of the Shares, but excluding those registered Stockholders who have completed either the &#147;Special Payment
Instructions&#148; box or the &#147;Special Delivery Instructions&#148; box on the Letter of Transmittal, or (ii)&nbsp;such Shares are tendered for the account of an Eligible Institution. In all other cases, all signatures on the Letter of
Transmittal must be guaranteed by an Eligible Institution. See Instruction 6 of the Letter of Transmittal for further information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Book-Entry Delivery
Procedure.</I><I></I>&nbsp;The Depositary will establish an account with respect to the Shares at the Depository Trust Company (the &#147;Book-Entry Transfer Facility&#148;) for purposes of the Offer within two business days after the date of this
Offer. Any financial institution that is a participant in any of the Book-Entry Transfer Facility&#146;s systems may make delivery of tendered Shares by (i)&nbsp;causing such Book-Entry Transfer Facility to transfer such Shares into the
Depositary&#146;s account in accordance with such Book-Entry Transfer Facility&#146;s procedure for such transfer and (ii)&nbsp;causing a confirmation of receipt of such delivery to be received by the Depositary (the &#147;Book-Entry Delivery
Procedure&#148;). The Book-Entry Transfer Facility may charge the account of such financial institution for tendering Shares on behalf of Stockholders. Notwithstanding that delivery of Shares may be properly effected in accordance with this
Book-Entry Delivery Procedure, the Letter of Transmittal (or facsimile thereof), with signature guarantee, if required, and all other documents required by the Letter of Transmittal must be transmitted to and received by the Depositary at the
appropriate address set forth on the last page of this Offer on or before the Termination Date or, if the offer is extended, the Extended Termination Date, or the tendering Stockholder must comply with the Guaranteed Delivery Procedure set forth
below. Delivery of documents to a Book-Entry Transfer Facility in accordance with such Book-Entry Transfer Facility&#146;s procedures does not constitute delivery to the Depositary for purposes of this Offer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Guaranteed Delivery Procedure</I>. If certificates for Shares are not immediately available or time will not permit the Letter of Transmittal and other
required documents to reach the Depositary prior to the Termination Date or, if the offer is extended, the Extended Termination Date, Shares may be properly tendered provided that (i)&nbsp;such tenders are made by or through an Eligible Institution
and (ii)&nbsp;the Depositary receives, prior to the Termination Date or, if the offer is extended, the Extended Termination Date, a properly completed and duly executed Notice of Guaranteed Delivery substantially in the form provided by the Fund
(delivered by mail or telegram) and (iii)&nbsp;the certificates for all tendered Shares, or confirmation of the delivery of Shares into the Depositary&#146;s account in accordance with such Book-Entry Transfer Facility&#146;s procedure for such
transfer, together with a properly completed and duly executed Letter of Transmittal and any other documents required by the Letter of Transmittal, are received by the Depositary within three business days after receipt by the Depositary of such
Notice of Guaranteed Delivery. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 6 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>U.S. Federal Income Tax Withholding</I>. To prevent U.S. federal income tax backup withholding at a rate
generally equal to 28% of the gross payments made pursuant to the Offer, each U.S. Stockholder who has not previously submitted a correct, completed and signed Form <FONT STYLE="white-space:nowrap">W-9</FONT> to the Fund or does not otherwise
establish an exemption from withholding must notify the Depositary of the Stockholder&#146;s correct taxpayer identification number (or certify that the taxpayer is awaiting a taxpayer identification number) and provide certain other information by
completing the Substitute Form <FONT STYLE="white-space:nowrap">W-9</FONT> included in the Letter of Transmittal. If the Depositary is not provided with the correct taxpayer identification number, the Stockholder may be subject to a $50 penalty
imposed by the Internal Revenue Service (&#147;IRS&#148;) in addition to being subject to backup withholding. Certain U.S. Stockholders (including, among others, corporations) are not subject to these backup withholding requirements though they may
be required to establish their exempt status. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund will generally withhold 30% of the proceeds otherwise payable to a Foreign Stockholder unless the
Foreign Stockholder has established that it is exempt from such withholding (e.g., by providing a Form <FONT STYLE="white-space:nowrap">W-8ECI)</FONT> or entitled to a reduced rate of withholding (e.g., by providing a Form <FONT
STYLE="white-space:nowrap">W-8BEN</FONT> that claims the benefit of an income tax treaty that reduces the withholding rate on dividends). A Foreign Stockholder may be entitled to a refund from the IRS on all or a portion of any tax withheld (e.g.,
because the payment to them is not characterized as a dividend for U.S. federal income tax purposes). Foreign Stockholders are urged to consult their own tax advisors regarding the application of federal income tax withholding, including eligibility
for a withholding tax reduction or exemption, and the refund procedure. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Determinations of Validity.</I><I></I>&nbsp;All questions as to the validity,
form, eligibility (including time of receipt), payment and acceptance for payment of any tender of Shares will be determined by the Fund, in its sole discretion, which determination shall be final and binding. The Fund reserves the absolute right to
reject any and all tenders of Shares it determines not to be in proper form or the acceptance for payment of which may, in the opinion of its counsel, be unlawful. The Fund also reserves the absolute right to waive any of the conditions of the
Offer, in whole or in part, or any defect or irregularity in the tender of any Shares. No tender of Shares will be deemed to have been validly made until all defects and irregularities have been cured or waived. Neither the Fund, Matthews Asia, the
Information Agent, the Depositary, nor any other person shall be under any duty to give notification of any defects or irregularities in tenders, nor shall any of the foregoing incur any liability for failure to give any such notification. The
Fund&#146;s interpretation of the terms and conditions of the Offer (including the Letter of Transmittal and instructions thereto) will be final and binding. By tendering Shares, you agree to accept all decisions the Fund makes concerning these
matters and waive any right you might otherwise have to challenge those decisions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Payment for Shares validly tendered and accepted for payment pursuant
to the Offer will be made, in all cases, only after timely receipt of (i)&nbsp;certificates for such Shares by the Depositary or book-entry confirmation of delivery of such Shares to the account of the Depositary, (ii)&nbsp;a properly completed and
duly executed Letter of Transmittal (or facsimile thereof) for such Shares, and (iii)&nbsp;any other documents required by the Letter of Transmittal. The tender of Shares pursuant to any of the procedures described in this Section&nbsp;3 will
constitute an agreement between the tendering Stockholder and the Fund upon the terms and subject to the conditions of the Offer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The method of
delivery of all required documents is at the election and risk of each tendering Stockholder. If delivery is by mail, registered mail with return receipt requested, properly insured, is recommended. </B></P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Rights of Withdrawal.</B> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tenders of Shares made pursuant to the Offer may be withdrawn at any time prior to the Termination Date or, if the offer is extended, the Extended Termination
Date. Additionally, the amount of Shares tendered may be increased or decreased by the Stockholder prior to the Termination Date or, if the offer is extended, the Extended Termination Date. Upon the terms and subject to the conditions of the Offer,
the Fund expects to accept for payment validly tendered and not properly withdrawn Shares promptly after the Termination Date or, if the offer is extended, the Extended Termination Date. After the Fund has accepted tendered Shares for payment, all
tenders made pursuant to the Offer are irrevocable. If the Fund has not yet accepted tendered Shares for payment, you may withdraw your tendered Shares after 5:00 p.m. New York City time on March&nbsp;3, 2019. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 7 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To be effective, a written or telegraphic transmission notice of withdrawal must be timely received by the
Depositary at one of its addresses set forth on the last page of this Offer. Any notice of withdrawal must specify the name of the person who executed the particular Letter of Transmittal or Notice of Guaranteed Delivery, the number of Shares to be
withdrawn, and the names in which the Shares to be withdrawn are registered. Any signature on the notice of withdrawal must be guaranteed by an Eligible Institution. If certificates have been delivered to the Depositary, the name of the registered
holder and the serial numbers of the particular certificates evidencing the Shares withdrawn must also be furnished to the Depositary. If Shares have been delivered pursuant to the Book-Entry Delivery Procedure set forth in Section&nbsp;3, any
notice of withdrawal must specify the name and number of the account at the appropriate Book-Entry Transfer Facility to be credited with the withdrawn Shares (which must be the same name, number, and Book-Entry Transfer Facility from which the
Shares were tendered), and must comply with the procedures of that Book-Entry Transfer Facility. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All questions as to the form and validity, including
time of receipt, of any notice of withdrawal will be determined by the Fund, in its sole discretion, which determination shall be final and binding. Neither the Fund, Matthews Asia, the Information Agent, the Depositary, nor any other person shall
be under any duty to give notification of any defects or irregularities in any notice of withdrawal, nor shall any of the foregoing incur any liability for failure to give such notification. Any Shares properly withdrawn will be deemed not to have
been validly tendered for purposes of the Offer. However, withdrawn Shares may be <FONT STYLE="white-space:nowrap">re-tendered</FONT> by following the procedures described in Section&nbsp;3 at any time prior to the Termination Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If the Fund is delayed in its acceptance for payment of Shares, or is unable to accept for payment Shares tendered pursuant to the Offer, for any reason,
then, without prejudice to the Fund&#146;s rights under this Offer, the Depositary may, on behalf of the Fund, retain tendered Shares, and such Shares may not be withdrawn except to the extent that tendering Stockholders are entitled to withdrawal
rights as set forth in this Section&nbsp;4. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Source and Amount of Funds; Effect of the Offer.</B> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The actual cost to the Fund cannot be determined at this time because the number of Shares to be purchased will depend on the number tendered, and the price
will be based on the NAV per Share on the Pricing Date. If the NAV per Share on the Pricing Date were the same as the NAV per Share on December&nbsp;28, 2019, and if Stockholders tender 30% of the Fund&#146;s outstanding Shares pursuant to the
Offer, the estimated payments by the Fund to the Stockholders would be approximately $86,694,839. See the Pro Forma Capitalization table below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
monies to be used by the Fund to purchase Shares pursuant to the Offer will be obtained from cash and from sales of securities in the Fund&#146;s investment portfolio. The Fund does not expect to borrow money to finance the purchase of any tendered
Shares. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The Offer may have certain adverse consequences for tendering and <FONT STYLE="white-space:nowrap">non-tendering</FONT> Stockholders. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Effect on NAV and Consideration Received by Tendering Stockholders</I>. If the Fund is required to sell a substantial amount of portfolio securities to
raise cash to finance the Offer, the market prices of the Fund&#146;s portfolio securities, and hence the Fund&#146;s NAV, may decline or may fail to increase at the rate they would have increased absent such sale. If such a decline or
underperformance occurs, the Fund cannot predict what its magnitude might be or whether such a decline or underperformance would be temporary or continue to or beyond the Termination Date. Because the Purchase Price per Share to be paid in the Offer
will be dependent upon the NAV per Share as determined on the Pricing Date, if such decline or underperformance should continue up to the Pricing Date, the consideration received by tendering Stockholders would be lower than if such decline or under
performance had not occurred. In addition, the sale of portfolio securities will cause increased brokerage and related transaction expenses, and the Fund may receive proceeds from the sale of portfolio securities less than their valuations by the
Fund. Accordingly, because of the Offer, the Fund&#146;s NAV per Share may decline or underperform more than it otherwise might, thereby reducing the amount of proceeds received by tendering Stockholders and the value per Share for <FONT
STYLE="white-space:nowrap">non-tendering</FONT> Stockholders. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 8 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Stockholders should note, however, that the Offer may result in accretion to the Fund&#146;s NAV per Share,
following the Offer, due to the fact that the Purchase Price represents a 1% discount to the Fund&#146;s NAV per Share. The potential accretion to the Fund&#146;s NAV per Share may offset in whole or in part any decline in the Fund&#146;s NAV (as
discussed above) and the expenses or transaction costs associated with the Offer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund will likely sell portfolio securities during the pendency of
the Offer to raise cash for the purchase of Shares. Thus, during the pendency of the Offer, and possibly for a short time thereafter, the Fund will hold a greater than normal percentage of its net assets in cash and cash equivalents. Similarly, the
Fund may increase its holdings in exchange traded funds (&#147;ETFs&#148;) and other highly liquid securities during the pendency of the Offer and may temporarily depart from its stated investment strategies and percentage tests applicable to the
Fund&#146;s investments under normal circumstances. The Fund is required by law to pay for tendered Shares it accepts for payment promptly after the Pricing Date of this Offer. Because the Fund will not know the number of Shares tendered until the
Termination Date and the Purchase Price of the Shares tendered until the Pricing Date, the Fund will not know until the Pricing Date the amount of cash required to pay for such Shares. If on or prior to the Termination Date the Fund does not have,
or believes it is unlikely to have, sufficient cash to pay for all Shares tendered, it may extend the Offer to allow additional time to sell portfolio securities and raise sufficient cash. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Effect on Liquidity for Shares not Tendered in the Offer.</I><I></I>&nbsp;The Fund&#146;s purchase of Shares pursuant to the Offer will reduce the number
of Shares that might otherwise trade publicly and may reduce the number of the Fund&#146;s Stockholders. It will also have the effect of increasing the proportionate interest in the Fund of <FONT STYLE="white-space:nowrap">non-tendering</FONT>
Stockholders. A reduction in the number of Shares issued and outstanding may reduce the volume of trading in the Shares and make it more difficult to buy or sell significant amounts of Shares without affecting the market price, which could adversely
affect <FONT STYLE="white-space:nowrap">non-tendering</FONT> Stockholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Possible Proration</I>: If greater than 30% of the Fund&#146;s Shares are
presented for repurchase pursuant to the Offer, the Fund will be required to purchase Shares tendered on a<I>&nbsp;pro rata</I>&nbsp;basis, subject to the exception described in Section&nbsp;1 above. Accordingly, tendering stockholders cannot be
assured that all of the Shares tendered will in fact be accepted for payment by the Fund. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Recognition of Capital Gains</I>. As noted, the Fund will
likely be required to sell portfolio securities pursuant to the Offer. If the Fund&#146;s tax basis for the securities sold is less than the sale proceeds, the Fund will recognize capital gains. The Fund would expect to declare a distribution of any
such gains to Stockholders of record (reduced by net capital losses realized during the fiscal year, if any, and available capital loss carryforwards) prior to December&nbsp;31, 2019, and distribute such gains in January of 2020. This recognition
and distribution of gains, if any, would have two negative consequences: first, Stockholders at the time of a declaration of distributions would be required to pay taxes on a greater amount of capital gain distributions than otherwise would be the
case; and second, to raise cash to make the distributions and otherwise to increase the level of liquidity of the overall portfolio during the pendency of this Offer, the Fund might need to sell additional portfolio securities, thereby possibly
being forced to realize and recognize additional capital gains. It is impossible to predict what the amount of unrealized gains or losses would be in the Fund&#146;s portfolio at the time that the Fund is required to liquidate portfolio securities
(and hence the amount of capital gains or losses that would be realized and recognized). As of October&nbsp;31, 2018, the aggregate cost basis of the Fund&#146;s investment securities for U.S. federal income tax purposes was $290,516,760. Gross
unrealized appreciation of investments was $41,243,966 while gross unrealized depreciation of investments was $43,682,617, resulting in net unrealized depreciation of investments of $2,438,651. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, some of the distributed gains may be realized on securities held for one year or less, which would generate income taxable to the Stockholders at
ordinary income rates. This could adversely affect the Fund&#146;s <FONT STYLE="white-space:nowrap">after-tax</FONT> performance. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 9 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Tax Consequences of Repurchases to Stockholders</I>. The Fund&#146;s purchase of tendered Shares pursuant to
the Offer will have tax consequences for tendering Stockholders and may have tax consequences for <FONT STYLE="white-space:nowrap">non-tendering</FONT> Stockholders. See Section&nbsp;8, &#147;U.S. Federal Income Tax Consequences of the Offer,&#148;
below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Higher Expense Ratio and Less Investment Flexibility</I>. If the Fund purchases a substantial number of Shares pursuant to the Offer, the net
assets of the Fund would be reduced accordingly. The reduced net assets of the Fund as a result of the Offer is likely to result in a higher expense ratio for the Fund, and possibly in less investment flexibility for the Fund, depending on the
number of Shares repurchased. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Pro Forma Effects on Capitalization</I>. The following table sets forth the net assets of the Fund as of
December&nbsp;28, 2018, adjusted to give effect to the Offer (excluding expenses and assuming the Fund repurchases 30% of its outstanding Shares): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PRO FORMA CAPITALIZATION</B><SUP STYLE="font-size:85%; vertical-align:top"></SUP><FONT STYLE="font-family:Times New Roman; font-size:6.5pt"><SUP
STYLE="font-size:85%; vertical-align:top">(1)<B></B></SUP><B> </B></FONT></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="59%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>As of<BR>December&nbsp;28,<BR>2018</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Adjustment&nbsp;for<BR>Purchase at <BR>$18.38 <BR>Per Share<SUP STYLE="font-size:85%; vertical-align:top">&nbsp;(2)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Pro Forma <BR>As Adjusted</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total net assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">291,924,859</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">86,694,839</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">205,230,020</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Shares outstanding</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15,722,675</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,716,803</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11,005,872</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>NAV per
Share</B><B></B><SUP STYLE="font-size:85%; vertical-align:top">&nbsp;(3)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>$</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>18.57</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">18.65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">This table assumes a purchase by the Fund of 4,716,803 Shares, equal to 30% of the Fund&#146;s outstanding
Shares as of December&nbsp;28, 2018,but does not reflect expenses incurred by the Fund in connection with the Offer. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">This amount represents 99% of the Fund&#146;s NAV per Share as determined as of December&nbsp;28,2018. Shares
tendered pursuant to the Offer will be purchased at a 1% discount to NAV per Share on the Pricing Date, which may be more or less than $18.38 per Share, and the pro forma NAV per Share also may be more or less than that shown above.
</P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The Fund normally calculates the NAV of its Shares no less frequently than the close of regular trading on the
NYSE on the last business day of each week, and it is determined by dividing the total net assets of the Fund, less all liabilities, by the number of Shares outstanding. </P></TD></TR></TABLE>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Purpose of the Offer.</B> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board considered the Offer at a meeting held on August&nbsp;24, 2018 and approved the terms of the Offer on December&nbsp;28, 2018. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Since the Fund&#146;s inception, the Board has regularly considered whether steps should be taken to attempt to reduce or eliminate any discount at which the
Fund&#146;s Shares may trade to their NAV. In order to address the discount to NAV at which the Shares trade, on November&nbsp;9, 2018 the Fund announced that the Fund intended to implement a discount management program (the &#147;Discount
Management Program&#148;) shortly after conclusion of the Offer. On that same date, the Fund announced that the Board had voted to approve in principle a <FONT STYLE="white-space:nowrap">one-time</FONT> tender Offer to Repurchase up to 30% of the
outstanding Shares at a Purchase Price equal to 99% of the NAV per Share. In accordance with the Discount Management Program, the Fund will repurchase its Shares in the open market on any day that the Fund&#146;s Shares are trading at a discount
determined by the Board. Under the program, the Fund is authorized to repurchase in each <FONT STYLE="white-space:nowrap">12-month</FONT> period ended October&nbsp;31, up to 10% of the Fund&#146;s Shares outstanding as of October&nbsp;31 of the
prior year. For example, for the year ending October&nbsp;31, 2019, the Fund may repurchase up to 10% of its common shares outstanding as of October&nbsp;31, 2018. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 10 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund is making the Offer to provide Stockholders with an alternative source of liquidity for their investment
in Shares and as part of the Fund&#146;s ongoing efforts to provide additional value to Stockholders. The Offer provides a means for Stockholders wishing to sell a portion of their Shares to do so at a price close to net asset value per Share. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The Offer has been unanimously approved by the Board. However, none of the Fund, its executive officers, the Board, Mathews Asia, or any affiliate of the
Fund makes any recommendation to any Stockholder regarding his or her participation in the Offer. Members of the Board who are also Stockholders may elect to participate in the Offer. None of the executive officers of the Fund or Matthews Asia
intends to participate in the Offer. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>No person has been authorized to make any recommendation on behalf of the Fund, its executive officers, the
Board or Matthews Asia as whether any Stockholder should participate in the Offer or to make any representation or to give any information in connection with the Offer other than as contained herein. If made or given, any such recommendation,
representation or information must not be relied upon as having been authorized by the Fund, its executive officers, the Board or Matthews Asia. Stockholders are urged to evaluate carefully all information in this Offer to Repurchase and the related
documents, consult their own investment and tax advisers and make their own decisions whether to tender their shares for repurchase or refrain from participating in the Offer. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">There can be no assurance that this Offer or any other actions taken by the Board will reduce or eliminate any market price discount from NAV of the Shares.
The market price of the Shares will also be determined by, among other things, the relative demand for and supply of the Shares in the market, the Fund&#146;s investment performance, the Fund&#146;s dividends and yield, and investor perception of
the Fund&#146;s overall attractiveness as an investment as compared with other investment alternatives. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any Shares repurchased by the Fund pursuant to
the Offer will be retired and will constitute authorized but unissued Shares, available for issuance by the Fund without further Stockholder action (except as required by applicable law or the rules of national securities exchanges on which the
Shares are listed). Such Shares submitted in the Offer will not be counted for purposes of any Fund events with a record date after the Termination Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Except in connection with the operation of the Fund&#146;s Dividend Reinvestment and Cash Purchase Plan and the Discount Management Program described above
and except for the engagement of Matthews Asia and the reduction in the size of the Board, both announced by the Fund on November&nbsp;9, 2018, the Fund does not have any present plans or proposals and is not engaged in any negotiations that relate
to or would result in: (a)&nbsp;any extraordinary transaction, such as a merger, reorganization or liquidation, involving the Fund; (b)&nbsp;other than in connection with transactions in the ordinary course of the Fund&#146;s operations and for
purposes of funding the Offer, any purchase, sale or transfer of a material amount of assets of the Fund; (c)&nbsp;any material change in the Fund&#146;s present dividend policy, or indebtedness or capitalization of the Fund; (d)&nbsp;changes to the
present Board or management of the Fund, including, but not limited to, any plans or proposals to change the number or the term of members of the Board, fill any existing vacancies on the Board or change any material term of the employment contract
of any executive officer; (e)&nbsp;any other material change in the Fund&#146;s corporate structure or business, including any plans or proposals to make any changes in the Fund&#146;s investment policy for which a vote would be required by
Section&nbsp;13 of the 1940 Act; (f)&nbsp;any class of equity securities of the Fund being delisted from a national securities exchange or ceasing to be authorized to be quoted in an automated quotations system operated by a national securities
association; (g)&nbsp;any class of equity securities of the Fund becoming eligible for termination of registration pursuant to Section&nbsp;12(g)(4) of the Exchange Act; (h)&nbsp;the suspension of the Fund&#146;s obligation to file reports pursuant
to Section&nbsp;15(d) of the Exchange Act; (i)&nbsp;the acquisition by any person of additional securities of the Fund, or the disposition of securities of the Fund; or (j)&nbsp;any changes in the Fund&#146;s Articles of Incorporation, <FONT
STYLE="white-space:nowrap">By-Laws</FONT> or other governing instruments or other actions that could impede the acquisition of control of the Fund. Except as required by the Fund&#146;s Discount Management Program described above, no other
repurchase offers are presently contemplated, but the Board reserves the right to conduct repurchase offers in the future. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 11 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">7.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>NAV and Market Price Range of Shares.</B> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Shares are traded on the NYSE. During each fiscal quarter of the Fund during the past two fiscal years , the NAV (as of the last business day of such
fiscal quarter), and the high, low and close market price per Share (as of the last business day of such fiscal quarter) were as follows: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="70%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center">Market Price</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom"><B>Fiscal Quarter Ended</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>High</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Low</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Close</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>NAV</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">January&nbsp;31, 2017</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15.791</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15.74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15.74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">18.46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">April&nbsp;30, 2017</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">17.59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">17.46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">17.59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">19.41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">July&nbsp;31, 2017</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">19.64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">19.539</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">19.59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">21.73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">October&nbsp;31, 2017</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">21.1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20.91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">21.10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">23.31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">January&nbsp;31, 2018</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">24.36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">23.96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">24.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">26.17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">April&nbsp;30, 2018</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">21.64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">21.37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">21.45</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">24.05</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">July&nbsp;31, 2018</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20.87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20.59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20.59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">22.51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">October&nbsp;31, 2018</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">17.05</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">16.88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">16.98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">18.98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">It is not anticipated that any cash dividend will be declared by the Board with a record date occurring before the expiration
of the Offer. The amount and frequency of dividends in the future will depend on circumstances existing at that time. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>U.S. Federal Income Tax Consequences of the Offer.</B> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The U.S. federal income tax discussion set forth below is a summary included for general information purposes only. In view of the individual nature of tax
consequences, each Stockholder is advised to consult his or her own tax adviser with respect to the specific, individual tax consequences of participation in the Offer, including the effect and applicability of state, local, foreign and other tax
laws and the possible effects of changes in federal or other tax laws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A U.S. Stockholder who tenders its Shares will receive either &#147;sale or
exchange treatment&#148; or &#147;dividend treatment&#148; with respect to any portfolio securities it receives in the Offer. Except as discussed below, a U.S. Stockholder will generally recognize capital gain or loss on a tender of Shares if the
exchange: results in a &#147;complete termination&#148; of all such U.S. Stockholder&#146;s interest in our Shares; results in a &#147;substantially disproportionate&#148; redemption with respect to such U.S. Stockholder; or is &#147;not essentially
equivalent to a dividend&#148; with respect to the U.S. Stockholder. Each of these tests, referred to as the &#147;Section&nbsp;302 tests,&#148; is explained in more detail below. In applying the Section&nbsp;302 tests, a U.S. Stockholder must take
account of all Shares that such U.S. Stockholder constructively owns under attribution rules, pursuant to which the U.S. Stockholder will be treated as owning Shares owned by certain family members (except that in the case of a &#147;complete
termination&#148; a U.S. Stockholder may, under certain circumstances, waive attribution from family members) and related entities and Shares that the U.S. Stockholder has the right to acquire by exercise of an option. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If one of the following tests is satisfied with respect to a U.S. Stockholder pursuant to the Offer the U.S. Stockholder will be treated as selling or
exchanging the redeemed Shares giving rise to capital gain or loss. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Complete Termination Test.</I>&nbsp;A U.S. Stockholder&#146;s tender of Shares
pursuant to the Offer will result in a &#147;complete termination&#148; of the U.S. Stockholder&#146;s interest in Fund Shares if the U.S. Stockholder does not directly or constructively own any Shares, all of the Shares that are actually owned by
the U.S. Stockholder are tendered and accepted for tender, and all of the Shares that are constructively owned by the U.S. Stockholder, if </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 12 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">any, are tendered and accepted for tender (or, with respect to Shares owned by certain related individuals, the
U.S. Stockholder satisfies special conditions set forth in Section&nbsp;302(c) of the Internal Revenue Code of 1986, as amended (the &#147;Code&#148;), which, if satisfied, prevents attribution of ownership of certain Shares to the U.S.
Stockholder). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Substantially Disproportionate Test</I>. A U.S. Stockholder&#146;s tender of Shares pursuant to the Offer generally will result in a
&#147;substantially disproportionate&#148; redemption with respect to the U.S. Stockholder if, among other things, the percentage of the then-outstanding Shares actually and constructively owned by the U.S. Stockholder after the Offer is completed
is less than 80% of the percentage of the Shares actually and constructively owned by the U.S. Stockholder before the Offer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Not Essentially
Equivalent to a Dividend Test.</I>&nbsp;A U.S. Stockholder&#146;s tender of Shares pursuant to the Offer will be treated as &#147;not essentially equivalent to a dividend&#148; if the reduction in the U.S. Stockholder&#146;s proportionate interest
after the completion of the Offer constitutes a &#147;meaningful reduction&#148; of the U.S. Stockholder&#146;s proportionate interest, given the U.S. Stockholder&#146;s particular facts and circumstances. The IRS has indicated in a published
revenue ruling that even a small reduction in the percentage interest of a stockholder whose relative interest in a publicly held corporation is minimal and who exercises no control over corporate affairs should constitute a &#147;meaningful
reduction.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Contemporaneous dispositions or acquisitions of Shares by a U.S. Stockholder may be deemed to be part of a single integrated transaction
and, if so, may be taken into account in determining whether any of the Section&nbsp;302 tests are satisfied. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If a U.S. Stockholder satisfies any of the
Section&nbsp;302 tests, the U.S. Stockholder will be treated as recognizing gain or loss from the disposition of the Shares. Such gain or loss will be equal to the difference between the fair market value of the portfolio securities and amount of
cash received and such U.S. Stockholder&#146;s adjusted tax basis in the Shares redeemed. Any such gain or loss will be capital gain or loss and will be long-term capital gain or loss if the holding period of the Shares redeemed exceeds one year as
of the date of the exchange. Capital gains of individuals and certain other <FONT STYLE="white-space:nowrap">non-corporate</FONT> U.S. Stockholders derived from capital assets held for more than one year are eligible for reduced rates of taxation.
The deductibility of capital losses is subject to significant limitations. Any gain or loss generally will be treated as arising from U.S. sources. Gain or loss must be determined separately for each block of Shares (Shares acquired at the same cost
in a single transaction) that are exchanged in the Offer from a U.S. Stockholder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In all cases, a U.S. Stockholder offering shares for tender would take
a tax basis in the portfolio securities he or she receives that is equal to the fair market value of those portfolio securities on the date of the exchange. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under the &#147;wash sale&#148; rules of the Code, recognition of a loss on Shares redeemed pursuant to the Offer will ordinarily be disallowed to the extent
a U.S. Stockholder acquires substantially identical shares within 30 days before or after the date the Shares are purchased by the Fund pursuant to the Offer. In that event, the basis and holding period of the Shares acquired will be adjusted to
reflect the disallowed loss. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If none of the tests set forth in Section&nbsp;302(b) of the Code are met, amounts received by a U.S. Stockholder that
tenders its Shares pursuant to the Offer will be taxable to the U.S. Stockholder as a &#147;dividend&#148; to the extent of such Stockholder&#146;s allocable share of the Fund&#146;s current or accumulated earnings and profits, and the excess of
such amounts received over the portion that is taxable as a dividend would constitute a <FONT STYLE="white-space:nowrap">non-taxable</FONT> return of capital (to the extent of the Stockholder&#146;s tax basis in the Shares sold pursuant to the
Offer) and any amounts in excess of the Stockholder&#146;s tax basis would constitute taxable gain. &#147;Qualified dividend income&#148; designated and paid by the Fund to a <FONT STYLE="white-space:nowrap">non-corporate</FONT> U.S. Stockholder may
be eligible for taxation at reduced rates to the extent that holding periods and other conditions are met. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund believes that the nature of the
repurchase will be such that the sale of Shares pursuant to the Offer will normally satisfy the test for a sale that is &#147;not essentially equivalent to a dividend&#148; and therefore will qualify for &#147;sale or exchange&#148; treatment (as
opposed to &#147;dividend&#148; treatment). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 13 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Foreign Stockholders</I>. Any payments to a tendering Stockholder who is a nonresident alien individual, a
foreign trust or estate or a foreign corporation that does not hold his, her or its Shares in connection with a trade or business conducted in the United States (a &#147;Foreign Stockholder&#148;) that are treated as dividends for U.S. federal
income tax purposes under the rules set forth above, will be subject to U.S. withholding tax at the rate of 30% (unless a reduced rate applies under an applicable tax treaty). A tendering Foreign Stockholder who realizes a capital gain on a tender
of Shares will not be subject to U.S. federal income tax on such gain, unless the Stockholder is an individual who is physically present in the United States for 183 days or more and certain other conditions exist. Such persons are advised to
consult their own tax adviser. Special rules may apply in the case of Foreign Stockholders (i)&nbsp;that are engaged in a U.S. trade or business, (ii)&nbsp;that are former citizens or residents of the U.S. or (iii)&nbsp;that have a special status
for U.S. federal income tax purposes, such as &#147;controlled foreign corporations,&#148; corporations that accumulate earnings to avoid U.S. federal income tax, and certain foreign charitable organizations. Such persons are advised to consult
their own tax adviser. The Fund will generally withhold 30% of the proceeds otherwise payable to a Foreign Stockholder unless the Foreign Stockholder has established that it is exempt from such withholding (e.g., by providing a Form <FONT
STYLE="white-space:nowrap">W-8ECI)</FONT> or entitled to a reduced rate of withholding (e.g., by providing a Form <FONT STYLE="white-space:nowrap">W-8BEN</FONT> that claims the benefit of an income tax treaty that reduces the withholding rate on
dividends). A Foreign Stockholder may be eligible to obtain a refund from the Internal Revenue Service of all or a portion of any tax withheld if such Foreign Stockholder satisfies certain requirements or is otherwise able to establish that no tax
or a reduced amount of tax is due. Foreign Stockholders are urged to consult their own tax advisors regarding the application of U.S. federal income tax withholding, including eligibility for a withholding tax reduction or exemption, and the refund
procedure. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Backup Withholding</I>. The Fund generally will be required to withhold tax at the rate of 28% (&#147;backup withholding&#148;) from any
payment to a tendering Stockholder that is an individual (or certain other <FONT STYLE="white-space:nowrap">non-corporate</FONT> persons) if the Stockholder fails to provide to the Fund its correct taxpayer identification number or otherwise
establish an exemption from the backup withholding tax rules. A Foreign Stockholder generally will be able to avoid backup withholding with respect to payments by the Fund that are treated as made in exchange for tendered Shares only if her or she
furnishes, or has previously furnished, to the Fund a duly completed Certificate of Foreign Status (Form <FONT STYLE="white-space:nowrap">W-8BEN),</FONT> signed under penalty of perjury, stating that her or she (1)&nbsp;is a nonresident alien
individual or a foreign corporation, partnership, estate or trust, (2)&nbsp;has not been and does not plan to be present in the United States for a total of 183 days or more during the calendar year, and (3)&nbsp;is neither engaged, nor plans to be
engaged during the year, in a United States trade or business that has effectively connected gains from transactions with a broker or barter exchange. Backup withholding is not an additional tax, and any amounts withheld may be credited against a
Stockholder&#146;s U.S. federal income tax liability. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Selected Financial Information.</B> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Set forth below is a summary of selected financial information for the Fund as of and for the fiscal years ended October&nbsp;31, 2018 and October&nbsp;31,
2017. The information with respect to the two fiscal years has been excerpted from the Fund&#146;s audited financial statements contained in its Annual Reports to Stockholders for these years. These reports have previously been provided to
Stockholders of the Fund. Copies of the two audited statements can be obtained for free, both at the website of the Commission (http://www.sec.gov) and from the Fund either from its website (<U>www.chinafundinc.com</U>) or by calling <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">888-246-2255.</FONT></FONT> The summary of selected financial information set forth below is qualified in its entirety by reference to such statements and the financial information, the
notes thereto and related matter contained therein. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 14 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SUMMARY OF SELECTED FINANCIAL INFORMATION For the Periods Indicated Below </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="68%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year Ended<BR>October&nbsp;31,<BR>2018<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year Ended<BR>October&nbsp;31,<BR>2017<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><B>(Audited)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>STATEMENT OF OPERATIONS:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Investment Income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">9,274,327</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">7,565,231</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7,003,680</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4,683,383</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Investment Income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,270,647</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,881,848</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Realized Gain on Investments and Foreign Currency Transactions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33,960,459</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,913,474</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net change in unrealized appreciation/depreciation on investments and foreign currency
transactions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(95,666,600</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65,848,652</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Increase/(decrease) in Net Assets from Operations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">(59,435,494</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">78,643,974</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>STATEMENTS OF ASSETS AND LIABILITIES</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total Assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">307,239,087</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">376,852,413</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total Liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8,770,015</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(10,311,382</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">298,469,072</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">366,541,031</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Asset Value, per share (15,722,675 shares of common stock outstanding)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">18.98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">23.31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year Ended<BR>October&nbsp;31,<BR>2018<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year Ended<BR>October&nbsp;31,<BR>2017<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>SELECTED PER SHARE
DATA<SUP STYLE="font-size:85%; vertical-align:top">&nbsp;(b)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net Asset Value, Beginning of Year</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">23.31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">18.78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Income from Investment Operations:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Investment Income (Loss)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">0.18</TD>
<TD NOWRAP VALIGN="bottom"><SUP STYLE="font-size:85%; vertical-align:top">(C)</SUP>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Realized and Unrealized Gain (Loss) on Investments and Foreign Currency Transactions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3.92</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total Income from Investment Operations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3.78</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Less Dividends and Distributions to Stockholders from:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dividend from Net Investment Income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(0.55</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(0.47</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Distributions from Net realized Capital Gains</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total Dividends and Distributions to Shareholders</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(0.55</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(0.47</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Increase from Payment by Affiliate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net Asset Value, End of Year</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">18.98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">23.31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Market Value, End of Year</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">16.98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">21.10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>TOTAL RETURN</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Based on Market Value</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(17.53</TD>
<TD NOWRAP VALIGN="bottom">)%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33.83</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year Ended<BR>October&nbsp;31,<BR>2018<SUP STYLE="font-size:85%; vertical-align:top">a)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year Ended<BR>October&nbsp;31,<BR>2017<SUP STYLE="font-size:85%; vertical-align:top">(a)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>RATIOS AND SUPPLEMENTAL DATA:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Assets, End of Year (000s)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">298,469</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">366,541</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ratio of Net Expenses to Average Net Assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.91</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.49</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ratio of Net Investment Income to Average Net Assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.62</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.92</TD>
<TD NOWRAP VALIGN="bottom">%<SUP STYLE="font-size:85%; vertical-align:top">(c)</SUP></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Portfolio Turnover Rate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The Fund was audited by Tait, Weller&nbsp;&amp; Baker LLP for the fiscal years ended October&nbsp;31, 2018 and
2017. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Per share amounts have been calculated using the average share method. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Amount includes a <FONT STYLE="white-space:nowrap">non-recurring</FONT> receipt of a refund for over-billing of
prior years&#146; custody out of pocket expense which amounted to less than $0.01 per share and less than 0.005% of net assets during 2017. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 15 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.<B></B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Certain Information Concerning the Fund and the Fund</B><B>&#146;</B><B>s Investment Adviser.</B>
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund, incorporated in Maryland in 1992, is a <FONT STYLE="white-space:nowrap">non-diversified,</FONT>
<FONT STYLE="white-space:nowrap">closed-end</FONT> management investment company registered under the 1940 Act. The Fund commenced operations on July&nbsp;17, 1992. The Shares commenced trading on the NYSE on July&nbsp;10, 1992. As a <FONT
STYLE="white-space:nowrap">closed-end</FONT> investment company, the Fund differs from an <FONT STYLE="white-space:nowrap">open-end</FONT> investment company (i.e., a mutual fund) in that it does not redeem its Shares at the election of a
Stockholder and does not continuously offer its Shares for sale to the public. The Fund seeks long-term capital appreciation primarily through investments in equity securities (i)&nbsp;of companies for which the principal securities trading market
is in China, (ii)&nbsp;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 or services sold or produced, or have at least 50% of their assets, in China or (iii)&nbsp;constituting direct equity investments in companies organized in China (collectively, &#147;China companies&#148;). As used herein, the term
&#147;direct equity investments&#148; means private investments in unlisted equity securities of China companies. The principal executive offices and business address of the Fund are located at c/o State Street Bank and Trust Company, P.O. Box 5049,
One Lincoln Street, Boston, MA 02206-5409. The Fund&#146;s business telephone number is <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">888-246-2255.</FONT></FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Matthews Asia serves as the investment adviser to the Fund. Matthews Asia is a limited liability company organized and existing under the laws of the State of
Delaware and registered as an investment adviser under the Investment Advisers Act of 1940, as amended. Matthews Asia has served as the Fund&#146;s investment adviser since January&nbsp;1, 2019. Matthews Asia&#146;s principal business address is
Four Embarcadero Center, Suite 550, San Francisco, CA 94111. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund is subject to the information and reporting requirements of the 1940 Act and in
accordance therewith is obligated to file reports and other information with the Commission relating to its business, financial condition and other matters. The Fund has also filed an Offer to Repurchase on Schedule TO with the Commission. Such
reports and other information should be available for inspection at the public reference room at the Commission&#146;s office at 100 F Street, N.E., Washington, D.C. 20549. The public may obtain information on the operation of the public reference
room by calling the Commission at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1-800-SEC-0330.</FONT></FONT></FONT> The Fund&#146;s filings are also available to the public, free of charge, on
the Commission&#146;s website (http://www.sec.gov). Copies may be obtained, by mail, upon payment of the Commission&#146;s customary charges, by writing to its principal office at 100 F Street, N.E., Washington, D.C. 20549. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 16 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Interest of Directors, Officers and Associates; Transactions and Arrangements Concerning the Shares.</B>
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The directors and executive officers of the Fund and the aggregate number and percentage of the Shares each of them beneficially owned
as of December&nbsp;31, 2018 is set forth in the table below. The address of each of them is in care of the Fund at c/o State Street Bank and Trust Company, P.O. Box 5049, 2 Avenue de Lafayette, Boston, MA 02206-5409. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="95%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Name and Position</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Number&nbsp;of&nbsp;Shares<BR>Beneficially&nbsp;Owned</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Percentage&nbsp;of<BR>Shares&nbsp;Beneficially<BR>Owned</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gary L. French, Director and Chairman of the Board</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Brian Link, Secretary</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Monique Labbe, Treasurer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Michael F. Holland, Director</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Patrick J. Kenniston, Chief Compliance Officer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">William C. Kirby, Director</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,538</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Linda Coughlin, Director</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Julian Reid, Director</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Richard A. Silver, Director</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Li Jin, Director</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each member of the Board is considered an independent director and not an &#147;interested person&#148; of the Fund, as that
term is defined in the 1940 Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Set forth below is information regarding persons who are beneficial owners or more than 10% of the Fund&#146;s Shares as
of December&nbsp;28, 2018, based on Schedule 13D or 13G disclosures filed with the SEC: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="73%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; ">Name and Address</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Shares</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Percent&nbsp;of&nbsp;Class</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">City of London Investment</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Management Co. Ltd.</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">77 Gracechurch Street</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">London EC3V 0AS</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">England</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,335,711</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27.6</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Lazard Asset Management</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">30 Rockefeller Plaza</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">New York, NY 10112</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,133,471</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13.57</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Except as described below, neither the Fund nor, to the best of the Fund&#146;s knowledge, any of the Fund&#146;s directors or
executive officers, or associates of any of the foregoing, has effected any transaction in Fund Shares, except for dividend reinvestment, during the past 60 days. On December&nbsp;19, 2018, Mr.&nbsp;Holland disposed all of his shares in the Fund.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Except as set forth in this Offer, neither the Fund, nor, to the best of the Fund&#146;s knowledge, any of the Fund&#146;s officers or directors, is a
party to any contract, arrangement, understanding or relationship with any other person relating, directly or indirectly, to the Offer with respect to any securities of the Fund, including, but not limited to, any contract, arrangement,
understanding or relationship concerning the transfer or the voting of any such securities, joint ventures, loan or option arrangements, puts or calls, guaranties of loans, guaranties against loss or the giving or withholding of proxies, consents or
authorizations. The Fund has been advised that no director or officer of the Fund intends to tender Shares pursuant to the Offer. The Offer does not, however, restrict the purchase of Shares pursuant to the Offer from any such person. The Fund is
not aware of any Stockholders of the Fund that are associates of the directors or executive officers listed above within the meaning of Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Exchange Act. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 17 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Certain Legal Matters; Regulatory Approvals.</B> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Except as described in this Offer, the Fund is not aware of any approval or other action by any government or governmental, administrative or regulatory
authority or agency, domestic or foreign, that would be required for the acquisition or ownership of Shares by the Fund as contemplated herein. Should any such approval or other action be required, the Fund presently contemplates that such approval
or other action will be sought. The Fund is unable to predict whether it may determine that it is required to delay the acceptance for payment of, or payment for, Shares tendered pursuant to the Offer pending the outcome of any such matter. There
can be no assurance that any such approval or other action, if needed, would be obtained without substantial conditions or that the failure to obtain any such approval or other action might not result in adverse consequences to the Fund&#146;s
business. The Fund&#146;s obligations under the Offer to accept for payment and pay for Shares are subject to certain conditions described in Section&nbsp;13. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 18 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">13.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Certain Conditions of the Offer.</B> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding any other provision of the Offer, and in addition to (and not in limitation of) the Fund&#146;s right to extend, amend or terminate the Offer
at any time up to and including the Termination Date in its sole discretion, the Fund will not be required to accept for payment or, subject to the applicable rules and regulations of the Commission, including Rule
<FONT STYLE="white-space:nowrap">14e-1(c)</FONT> under the Exchange Act, pay for any Shares, and may postpone the acceptance for payment of, or payment for, tendered Shares, and may, in its reasonable discretion, terminate or amend the Offer as to
any Shares not then paid for if: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(1) such transactions, if consummated, would (a)&nbsp;result in delisting of the Shares from the NYSE or
(b)&nbsp;impair, jeopardize or cause the loss of the Fund&#146;s status as a regulated investment company under the Code (which would make the Fund subject to U.S. federal income taxes on all of its income and gains in addition to the taxation of
Stockholders who receive distributions from the Fund); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(2) the amount of Shares tendered would require liquidation of such a substantial portion of the
Fund&#146;s portfolio securities that the Fund would not be able to liquidate portfolio securities in an orderly manner in light of the existing market conditions, and such liquidation would have an adverse effect on the NAV of the Fund to the
detriment of <FONT STYLE="white-space:nowrap">non-tendering</FONT> Stockholders; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(3) there shall be instituted, pending or threatened before any
governmental entity or court any action, proceeding, application or claim, or there shall be any judgment, order or injunction sought or any other action taken by any person or entity, which restrains, prohibits or materially delays the making or
consummation of the Offer, challenges the acquisition by the Fund of any shares pursuant to the Offer or the Board&#146;s fulfilment of its fiduciary obligations in connection with the Offer, seeks to obtain any material amount of damages in
connection with the Offer, or otherwise directly or indirectly adversely effects the Offer or the Fund; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(4) there shall have occurred (a)&nbsp;any
general suspension of trading in or limitation on prices for securities on the NYSE, any other national securities exchange, any stock exchange in China or any other exchange on which the Shares or the portfolio securities held by the Fund are
traded; (b)&nbsp;any declaration of a banking moratorium or similar action materially adverse to the Fund by U.S. federal, state or foreign authorities or any foreign jurisdiction, or any suspension of payment material to the Fund by banks in the
United States, the State of New York, or any other jurisdiction; (c)&nbsp;any limitation affecting the Fund or the issuers of its portfolio securities imposed by federal or state authorities on the extension of credit by lending institutions or the
convertibility of foreign currencies, (d)&nbsp;the commencement of war, armed hostilities or other international or national calamity directly or indirectly involving the United States or any foreign country in which the Fund invests or which is
material to the Fund, or (e)&nbsp;in the Board&#146;s judgment, other event or condition which would have a material adverse effect on the Fund or its Stockholders if tendered Shares were purchased; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(5) determination by the Board that effecting any such transaction would constitute a breach of their fiduciary duty owed to the Fund or its Stockholders.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing conditions are for the sole benefit of the Fund and may be asserted by the Fund regardless of the circumstances (including any action or
inaction by the Fund) giving rise to any such conditions and may be waived by the Fund in whole or in part at any time and from time to time in its sole discretion. The failure by the Fund at any time to exercise any of the foregoing rights will not
be deemed a waiver of any such right, and each such right will be deemed an ongoing right which may be asserted at any time and from time to time. Any determination by the Fund concerning the events described in this Section&nbsp;13 will be final
and binding on all parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A public announcement will be made of a material change in, or waiver of, such conditions, and the Offer will be extended to
the extent required by Rules <FONT STYLE="white-space:nowrap">13e-4(e)(3)</FONT> and <FONT STYLE="white-space:nowrap">13e-4(f)(1)</FONT> under the Exchange Act. Without limiting the manner in which the Fund may choose to make a public announcement
of extension, termination or amendment, the Fund will have no obligation to publish, advertise or otherwise communicate any such public announcement, except as provided by applicable law (including Rule
<FONT STYLE="white-space:nowrap">13e-4(d)(2),</FONT> Rule <FONT STYLE="white-space:nowrap">13e-4(e)(3)</FONT> and Rule <FONT STYLE="white-space:nowrap">14e-1(d)</FONT> under the Exchange Act) and the requirements of the NYSE. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 19 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As described in Section&nbsp;1 of this Offer to Repurchase, the Fund reserves the right, at any time during the
pendency of this Offer, to amend, extend or terminate the Offer in any respect (including amending the Offer to modify the conditions set forth above). </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">14.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Fees and Expenses.</B> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund will not pay to any broker or dealer, commercial bank, trust company or other person any solicitation fee for any Shares purchased pursuant to the
Offer. The Fund will reimburse such persons for customary handling and mailing expenses incurred in forwarding the Offer. No such broker, dealer, commercial bank or trust company has been authorized to act as the agent of the Fund or the Depositary
for purposes of the Offer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Fund has retained Computershare Trust Company, N.A. to act as Depositary and AST Fund Solutions, LLC to act as Information
Agent. The Depositary and the Information Agent will each receive reasonable and customary compensation for their services and will also be reimbursed for certain
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> expenses. Both the Depositary and the Information Agent will be indemnified against certain liabilities by the Fund. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">15.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Miscellaneous.</B> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Offer is not being made to (nor will tenders be accepted from or on behalf of) holders of Shares in any jurisdiction in which the making of the Offer or
the acceptance thereof would not be in compliance with the laws of such jurisdiction. The Fund may, in its sole discretion, take such action as it may deem necessary to make the Offer in any such jurisdiction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Since the Fund is not aware of any jurisdiction in which the making of the Offer or the acceptance of Shares in connection therewith would not be in
compliance with the laws of such jurisdiction, the Offer is currently being made to all holders of Shares. However, the Fund reserves the right to exclude Stockholders in any jurisdiction in which it is asserted that the Offer cannot lawfully be
made. So long as the Fund makes a good faith effort to comply with any state law deemed applicable to the Offer, the Fund believes that the exclusion of Stockholders residing in such jurisdiction is permitted under Rule <FONT
STYLE="white-space:nowrap">13e-4(f)(9)</FONT> promulgated under the Exchange Act. In any jurisdiction where the securities, blue sky or other laws require the Offer to be made by a licensed broker or dealer, the Offer shall be deemed to be made on
the Fund&#146;s behalf by one or more brokers or dealers licensed under the laws of such jurisdiction. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">16.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Contacting the Depositary and the Information Agent.</B> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Letter of Transmittal, certificates for the Shares and any other required documents should be sent by each Stockholder of the Fund or his or her
broker-dealer, commercial bank, trust company or other nominee to the Depositary as set forth below. Facsimile copies of the Letter of Transmittal will be accepted. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 20 - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">The Depositary for the Offer is: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g718248g0702235350049.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>By First Class&nbsp;Mail: </I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Computershare </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">c/o Voluntary
Corporate Actions </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">P.O. Box 43011 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Providence, RI 02940-3011 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>By Overnight Courier: </I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Computershare </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">c/o Voluntary
Corporate Actions </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">250 Royall Street Suite V </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Canton, MA 02021 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any questions or requests for
assistance or additional copies of the Offer, the Letter of Transmittal, the Notice of Guaranteed Delivery, and other documents may be directed to the Information Agent at its telephone number and location listed below. Stockholders may also contact
their broker, dealer, commercial bank or trust company or other nominee for assistance concerning the Offer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">The Information Agent for the
Offer is: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g718248g0702235350205.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Toll Free: <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">888-644-6071</FONT></FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Call Collect: <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">201-806-7301</FONT></FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THE CHINA FUND, INC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">January&nbsp;4, 2019 </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.906CERT
<SEQUENCE>4
<FILENAME>d718248dex99906cert.htm
<DESCRIPTION>SECTION 906 CERTIFICATIONS
<TEXT>
<HTML><HEAD>
<TITLE>Section 906 Certifications</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 13(b) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Frank Wheeler, Chief Executive Officer, and Monique Labbe, Chief Financial Officer of The China Fund, Inc. (the &#147;Fund&#148;), each certify that: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">This Form <FONT STYLE="white-space:nowrap">N-CSR</FONT> filing for the Fund (the &#147;Report&#148;) fully
complies with the requirements of Section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934; and </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The information contained in the Report fairly presents, in all material respects, the financial condition and
results of operations of the Fund. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Frank Wheeler</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Frank Wheeler</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Chief Executive Officer of The China Fund, Inc.</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: July 1, 2019 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:&nbsp;</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Monique Labbe</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Monique Labbe</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Chief Financial Officer of The China Fund, Inc.</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: July 1, 2019 </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>g718248g0702235350049.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g718248g0702235350049.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !1 :,# 2(  A$! Q$!_\0
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ML489@/J1C]*]X^%^MWGB#P%87VH2-)=G<LCL,$D'K0!V-%%% !1110 4444
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M%JU\ Z-<6,^DS7C32^8'28(![<@U]"^!?&EMXYT$ZI;6LEL%D,;1NP8@CWH
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M "4+_MW6@#JOV;.FM?5*X+XV?\E/U'Z)_*N]_9LZ:U]4K@OC9_R4_4?HG\J
M+'PZ^%!\>:3<7PU'[-Y4GE[=F<U[3I.D)\(/AOJ;278N6CW2HQ&,L1@"L/\
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M?_0A5G]HRU2/Q9I]P!\TMMAOP-5OV=_^1ZN_^O0_^A"@!W[1/_(\VG_7FO\
M,UY9IMC?:O=PZ;8QR332O\D2]SZUZG^T3_R/-I_UYK_,U+^SMID5SXMOKZ1
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M .TB#_;.D'!_U+?SJA^SJ#_PFE[Q_P NA_F* .^_:&_Y$>W_ .OD5XE\*/\
MDI6C_P#77^E>V_M"@GP/;X'_ "\K7B7PH!_X65H_'_+7^E 'TU\4O^2=:O\
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MV3_T$5\+X/G=#]ZONCP__P BWIW_ %[)_P"@B@#XS\<?\CMK'_7T_P#.O?\
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@@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH __]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>g718248g0702235350205.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g718248g0702235350205.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !X (D# 2(  A$! Q$!_\0
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MA:>(.T;C!4XY!%36D\5_90W*J-LB!@".F:MA0!@ #B@!P^Z*6@=** "BBB@
MHHHH **** *^SDD^M>:>([1[_P ;?9E&3)L7\*].."#ST-<U?PV.FZ^-8NY5
M3=%Y:9_O?_JH I>)+34O,T^+38"T=MA^#CD=*J^.M.:6SMM2"$2+A9 .P/\
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IY$ 7:(K:,* OH#6EHWAFST9VFB5I)W'S2R'+444 ;R_='TI:** /_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>g718248g48n11.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g718248g48n11.jpg
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M @,$!@$'  @1$A,A"146010C,3(S81<8)T-28H&#_\0 %@$! 0$
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M2D3*WKNZGXBT^?4F2'K1,BPI/CY]278Z,X\?/G'QP0\/KS78=/T#HZI#TI1
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3 <!P' <!P' <!P' <!P' <#_V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>g718248g96o26.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g718248g96o26.jpg
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M(" @(" @(" @(" @(" @(" @(" @( H\/WAP86-K970@96YD/2)W(C\^_]L
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MMADE)S0U.7*!D2A$=(:'HD958X*2H;/_Q  9 0$! 0$! 0
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M8TCAIR479MV\C)RIE((S;)QBV7W+UT"NBNHE+A8<BJP6,"-1YM[<LC9NI?\
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M(W8!_L%(ZNK?MAU)EC%\G%+O?3 6>*1JZ MIJFG\UZZTC+B,3T+E*CQ) 32
M.H55A\Q)&F)6,%JO8U!!*5V/%9W7OK+7.X_DW)YV$D!FS(W=Y&X)K@;":N,8
ML6?1^:0J/$9P_>SII-!OW.+&I>N3-662IAF'>S:LX%8MW5!%QJ<75B)N,J%W
M.)2#BD:_)QWI/!W%'AUT][I5)Y(E%E.T419S>K9,3+^W(E,96?KNQV?;_JW&
M8\P]!*>L5>55 YL(IB<W3@A7-;/;7A;B*QU64')'*T S:7%PA1AQC"T[IEUB
MM,J7%@ID2[#Q.;3:K)_8W;AIUOB]FW['XK:4%@!BQ;;/&W%#]2IO14:)$XY6
M$H+2RNUIC8?:ABQ,N@:T?-S2!0FKI:??^9B.F7GGGY4HZ32^Z]KMUUFU$&AZ
MN.DGDERDIA-DZYJ ]U!(V:#CM8V%-IG"F8/K)+HV<5.P*%1F0S=KL$/D&8@R
MCB/[KBGR^J#]-OOC?&H8VM<X_P 2.'V%O:SS,YF\\IV-WQBL9I5_46-#).-K
M.S:;)B'OW=>W+2TE):=,]=["NF)1ML) PH:>5CM6F)$$8RZ+'P.\-"S5:Q&\
MQU4]_P !*ZZC>*U:TN>&J"F N4=IW0YW9TL)]PX[?(OK?V@@]%/8K2E@D-[
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M=2V7!# 2O^Y:2?\ 4!C_ +N<\ B+JG^M=ZV_Z Z>_F\CO )\X X X X X X
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M[Z^_9-(O?E?QALIX>[]"U(G6/K.^<XU0:>G<[Y]&COP5>SZ,LYP0< < < <
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MPX7%IR$RI_;,B):#8GQOG^['W_J9!'SO=CW^/NQ\G -TX X X X X X X X
MX X!4V^O&WII$^K;#/IP$B'H6-V'4T^^2:T@-*K,A5?O_#S]=%+_ )@-<PU=
M@\1RT.U5%KP;(N6A5D,4W%NKYXNQ;+&/#W8]V,>[&,?@X(. . . . . . .
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MYMG 'MWN9\UG6/Z_;4_-LX ]N]S/FLZQ_7[:GYMG 'MWN9\UG6/Z_;4_-LX
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M6JK&K(4T#Q5ZN-WT$R"9(S&=MFK9Y,R.%!7THO.98;@@X X X X X X X X
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MO_@_ 'Q*.GWT7Z%^JJ%_\'X ^)1T^^B_0OU50O\ X/P!\2CI]]%^A?JJA?\
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M %:*1X*[EL]V6;X(. . . . =?N>L-XNNP;:]R<YIA:20 1=HZO)>,K0E'K
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M2N9$SCLB!GG<0/*165M@Y5B3<1F3I"A1Q6.GT6:ZR@@XF%.A"Z@HAJW?:##
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MTNERIE.]MOB=KZ'I_0(^L^B]9]$GZQZ#S_0>G\S'I?0^D_1/1>D\[T?G_?\
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MU=]?O-]\ZYSC-:DB;5SVK![5<]YH=S=GNQW7J )/(=/A,WP8(.X^+UMF,I2
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M\Y8=E3>Q7Z@&!/YH4BPD>I,39?42S'D+"ESS?0;HUV>K%MMGNSC#9GAN!-/
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MXO/LM7&:15[O+^O;['_]855_,G7G._H76MJZ'#_J+['\K_N96/G<\XX X X
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M.[PL=FR;F6HYWDD JR$L5EGD;IJ#O=TD<N@T<4=+OY;*<-VKNQIX[+REPU%
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MDZ9[M6BRZ U:^I]XPS9PH;Y5B+PBO!6+Z4$F;.+VO?<%CC%NSBO4LD=A]%_
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MESR!3 +9%(W+)H-$V\/;6G)_5<.>P=9Q^J9M8XZ?D8Y!(U,E?A6A&#$3ETK
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M26FB:2>FJ:::>N-$TT],8UTTTTUQC73337&-===<8QKC&,8QC&."'[X X X
MX X X X!4ZU9">N.:$.MU;&"006.;L'/8^S(^\78$8+%C+1)^-J>'G&:B;@;
M;UGAW"3ER_&+)F:MK)[O.?6H_*994;TN+KX>>5I6I9B.QX#$0 2*18.-CT9C
M0D<!CP ,S0'" @00T18"Q(M@UT2;,AX]DW0:,VC=/1%NW2323TUTUQC AF>
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M=QLK@\G;M5G#9,U'2R*S11RQ<O YEGZE((Z1+1PN(+/A&H),X X X X X X
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M;@^W)1.^\S'5G];%UR_T#U#_ #?1[@A/' ' ' ' ' ' ' ' ' ' ' ' ' '
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MHLW<MUM-T5T%M-%4E=-DU-==]<XP!-_ ' ' ' ' ' ' ' ' ' ' ' ' ' '
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M'+6QM)*8&W&(WK\GO19NH\;1)&,2UY(I6Z]QJ49Q7E6NSNOCIR/7/"92W+1
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M < < < < < < < < < < < K'VW_ +U<4_?.=)_]<RA."J_<^C+.<$' ' '
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M(W96U.W/V]$64:)1=]);\B,KC^KB)3%\W-1S?J?UDC6# Q^* /V#QEK((S(
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MPQ!9"-;P>NC5?-8M/6):2P8H7+W@5LHA.;&RRDHU+5R#<K7B^/7E%"^?!D<
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ME2?LW)+V:.]?]2]#ZYZ@R]8])ZJAY@Q;41%+SU6\',< < < < < < < < <
M< < < < < < < < < < < < < < < < < < < < < < < < < < < < < <
%< < _]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
