<SEC-DOCUMENT>0001398344-23-002737.txt : 20230210
<SEC-HEADER>0001398344-23-002737.hdr.sgml : 20230210
<ACCEPTANCE-DATETIME>20230210165809
ACCESSION NUMBER:		0001398344-23-002737
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20230309
FILED AS OF DATE:		20230210
DATE AS OF CHANGE:		20230210

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:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05749
		FILM NUMBER:		23613097

	BUSINESS ADDRESS:	
		STREET 1:		50 POST OFFICE SQUARE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		617 772 1616

	MAIL ADDRESS:	
		STREET 1:		50 POST OFFICE SQUARE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>fp0082130-1_def14a.htm
<TEXT>
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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proxy Statement Pursuant to Section&nbsp;14(a)
of the</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934 </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Filed
by the Registrant [X]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Filed by a Party other than the Registrant [</FONT>&nbsp;&nbsp;]</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Check the appropriate box:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">[&nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Preliminary Proxy Statement</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">[&nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">[X]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Definitive Proxy Statement</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">[&nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Definitive Additional Materials</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">[&nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Soliciting Material Pursuant to &sect;240.14a-12</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The China Fund, Inc.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Registrant as Specified In Its Charter)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Person(s) Filing Proxy Statement, if other
than the Registrant)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Payment of Filing Fee (Check the appropriate box):</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">[X]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">No fee required.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">[&nbsp;&nbsp;]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">(1)</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Title of each class of securities to which transaction applies:</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">(2)</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Aggregate number of securities to which transaction applies:</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">(3)</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">(4)</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Proposed maximum aggregate value of transaction:</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">(5)</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Total fee paid:</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">[&nbsp;&nbsp;]</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Fee paid previously with preliminary materials.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">[&nbsp;&nbsp;]</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 20pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">(1)</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Amount previously paid:</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">(2)</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Form, Schedule or Registration Statement No.:</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">(3)</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Filing Party:</FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">(4)</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Date Filed:</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;<IMG SRC="fp0082130-1_01.jpg" ALT=""></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE CHINA FUND, INC.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">c/o Brown Brothers Harriman &amp; Co.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">50 Post Office Square</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Boston, Massachusetts 02110</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">February 10, 2023</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Stockholders:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Annual Meeting of Stockholders
(the &ldquo;Meeting&rdquo;) of The China Fund, Inc. (the &ldquo;Fund&rdquo;) will be held virtually at 11:00 A.M., Eastern Time, on March
9, 2023. A Notice and Proxy Statement regarding the Meeting, proxy card for your vote, and postage prepaid envelope in which to return
your proxy card are enclosed. You may also vote through the Internet or by telephone by following the instructions on the enclosed proxy
card.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The matter on which you,
as a stockholder of the Fund, are being asked to vote on is: the election of one Class III Fund Director, George Iwanicki. The Board of
Directors recommends that you vote FOR the election of the Director.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 30%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Respectfully, </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Patrick Keniston</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><I>Secretary</I></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>YOU ARE STRONGLY URGED TO VOTE. YOU MAY DO
SO BY TELEPHONE; BY INTERNET; OR BY COMPLETING, DATING AND SIGNING THE ENCLOSED PROXY CARD, AND MAILING IT IN THE ENVELOPE PROVIDED FOR
THAT PURPOSE. THIS SOLICITATION IS BEING MADE BY THE BOARD OF DIRECTORS OF THE FUND. </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>















<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;<IMG SRC="fp0082130-1_01.jpg" ALT=""></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE CHINA FUND, INC.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTICE OF THE ANNUAL MEETING OF STOCKHOLDERS</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>March 9, 2023</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>To the Stockholders of </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The China Fund, Inc.: </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">NOTICE IS HEREBY GIVEN that
the Annual Meeting of Stockholders (the &ldquo;Meeting&rdquo;) of The China Fund, Inc. (the &ldquo;Fund&rdquo;) will be held virtually
on March 9, 2023 at 11:00 A.M., Eastern Time, for the following purpose:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt">1.</TD><TD STYLE="text-align: justify">To elect one Class III director, George Iwanicki, to serve for a term expiring on the date on which the
annual meeting of stockholders is held in 2026 (the "Proposal"); and</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 20pt"></TD><TD STYLE="width: 20pt">2.</TD><TD STYLE="text-align: justify">To transact such other business as may properly come before the Meeting or any adjournments thereof.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.9pt">The Board of Directors (the
&ldquo;Board&rdquo;) has fixed the close of business on January 23, 2023, as the record date (the &ldquo;Record Date&rdquo;) for the determination
of stockholders entitled to notice of and to vote at the Meeting or any adjournments thereof.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This year&rsquo;s Annual Meeting will be our third
time hosting a virtual meeting of stockholders, which will be conducted solely online via virtual format by conference call. If you are
a stockholder entitled to vote, to participate in the Meeting, you must email shareholdermeetings@computershare.com no later than 5:00
p.m. Eastern Time 3 business days prior to the Meeting date and provide your fund name, name and address, and control number found in
the shaded box of you proxy card. You will then receive an email from Computershare Fund Services containing the conference call dial-in
information and instructions for participating in the Meeting.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If you are a stockholder entitled to vote, you
can vote by telephone or by Internet or by completing, dating and signing the enclosed form of proxy card and returning it promptly in
the envelope provided for that purpose. If you vote in that manner but then attend the Meeting virtually, you can vote virtually at the
Meeting. This solicitation is being made by the Board.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Board also invites and encourages you to attend
a presentation by the Fund&rsquo;s Investment Manager, Matthews International Capital Management, LLC (the &ldquo;Investment Manager&rdquo;),
immediately preceding the Meeting.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS
FOR THE MEETING ON MARCH 9, 2023</B>: This Notice, Proxy Statement and Form of proxy card are available on the Internet at <U>https://www.proxy-direct.com/chn-33175</U>.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 30%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">By order of the Board of Directors, </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Patrick Keniston</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Secretary </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">February 10, 2023</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Q:&#9;How can I attend the Annual Meeting?</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 38pt; text-align: justify; text-indent: -38pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 40pt"><B>A:</B></TD><TD STYLE="text-align: justify">The Annual Meeting will be a completely virtual meeting of stockholders, which will be conducted via virtual
format by conference call. You are entitled to participate in the Annual Meeting only if you were a stockholder of the Company as of the
close of business on the Record Date, or if you hold a valid proxy for the Annual Meeting. No physical meeting will be held.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; text-align: justify">If you are a stockholder entitled to
vote, to participate in the Meeting virtually, you must email shareholdermeetings@computershare.com no later than 5:00 p.m. Eastern Time
3 business days prior to the Meeting and provide your fund name, name and address, and the control number found in the shaded box of you
proxy card. You will then receive an email from Computershare Fund Services containing the conference call dial-in information and instructions
for participating in the Meeting.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; text-align: justify">If you hold your shares through an intermediary,
such as a bank or broker, you must register in advance using the instructions below.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; text-align: justify">The Meeting will begin promptly at 11:00
a.m., Eastern Time. We encourage you to access the Meeting prior to the start time leaving ample time for the check in. Please follow
the access instructions as outlined in this proxy statement.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 38.15pt; text-align: justify; text-indent: -38.15pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 40pt"><B>Q:</B></TD><TD STYLE="text-align: justify"><B>How do I register to attend the Annual Meeting virtually on the Internet?</B></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 38pt; text-align: justify; text-indent: -38pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 40pt"><B>A:</B></TD><TD STYLE="text-align: justify">If you are a stockholder entitled to vote, to participate in the Meeting, you must email shareholdermeetings@computershare.com
no later than 5:00 p.m. Eastern Time 3 business days prior to the Meeting and provide your fund name, name and address, and control number
found in the shaded box of you proxy card. You will then receive an email from Computershare Fund Services containing the conference call
dial-in information and instructions for participating in the Meeting.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 38pt; text-align: justify; text-indent: 0.7pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 38pt; text-align: justify; text-indent: 0.7pt">If you hold your
shares through an intermediary, such as a bank or broker, you must submit proof of your proxy power (legal proxy) reflecting your China
Fund, Inc. holdings along with your name and email address to Computershare. You must contact the bank or broker who holds your shares
to obtain your legal proxy. Requests for registration must be labeled as &ldquo;Legal Proxy&rdquo; and be received no later than 5:00
p.m., Eastern Time, 3 business days prior to the Meeting date.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; text-align: justify">You will then receive an email from
Computershare Fund Services containing the conference call dial-in information and instructions for participating in the Meeting.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40pt; text-align: justify">Requests for registration should be
directed to us by emailing an image of your legal proxy, to <U>shareholdermeetings@computershare.com</U>.&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;<IMG SRC="fp0082130-1_01.jpg" ALT=""></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE CHINA FUND, INC.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>c/o Brown Brothers Harriman &amp; Co.,</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>50 Post Office Square</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Boston, Massachusetts 02110</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROXY STATEMENT</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INTRODUCTION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">This Proxy Statement is furnished
in connection with the solicitation of proxies by the Board of Directors (the &ldquo;Board&rdquo;) of The China Fund, Inc. (the &ldquo;Fund&rdquo;)
for use at the Annual Meeting of Stockholders (the &ldquo;Meeting&rdquo;), to be held virtually on Thursday, March 9, 2023, at 11:00 A.M.
Eastern Time, and at any adjournments thereof.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">This Proxy Statement and
the form of proxy card are being mailed to stockholders on or about February 10, 2023. Any stockholder giving a proxy has the power to
revoke it by executing a superseding proxy by phone, Internet or mail following the process described on the proxy card or by submitting
a notice of revocation to the Fund prior to the date of the Meeting or by attending and voting at the Meeting. All properly executed proxies
received in time for the Meeting will be voted as specified in the proxy or, if no specification is made, for the election of the director
as described in the Proposal  of this Proxy Statement.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The presence in person
or by proxy of stockholders entitled to cast one third of the votes entitled to be cast thereat constitutes a quorum at all meetings
of the stockholders. For purposes of determining the presence of a quorum for transacting business at the Meeting, executed proxies
returned without marking a vote on the Proposal will be treated as shares that are present for quorum
purposes. Abstentions are included in the determination of the number of shares present at the Meeting for purposes of determining
the presence of a quorum. <B>If a stockholder is present in person or by proxy at the Meeting but does not cast a vote, the
stockholder&rsquo;s shares will count towards a quorum but will have no effect on the Proposal. </B>In the event a quorum is not
present at the Meeting, or in the event that a quorum is present at the Meeting but sufficient votes to approve the Proposal are not
received, the chairman of the Meeting or the holders of a majority of the stock present in person or by proxy have the power to
adjourn the Meeting from time to time to a date not more than 120 days after the original Record Date without notice other than
announcement at the Meeting. At such adjourned meeting at which a quorum is present, any business may be transacted which might have
been transacted at the Meeting as originally notified. The Fund may set a subsequent record date and give notice of it to
stockholders, in which case the meeting may be held more than 120 days beyond the original Record Date. A proxy granted by a
stockholder as of the original Record Date for the Meeting remains valid with respect to the shares held by such stockholder as of
the subsequent record date, unless the proxy is revoked by the stockholder prior to being exercised at the adjourned or postponed
meeting, provided that, unless a proxy provides otherwise, it is not valid for more than eleven months after its date. The Fund may
postpone or cancel a meeting of stockholders by making a public announcement of such postponement or cancellation prior to the
meeting. Notice of the date, time, and place to which the meeting is postponed is required to be given not less than ten days prior
to such date and otherwise in the manner set forth in the Fund&rsquo;s By-Laws.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Board has fixed the close
of business on January 23, 2023, as the record date for the determination of stockholders entitled to notice of and to vote at the Meeting
and at any adjournments thereof. Stockholders on the Record Date will be entitled to one vote for each share held, with no shares having
cumulative voting rights. As of the Record Date, the Fund had outstanding  10,157,504 shares of common stock.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Management of the Fund knows
of no item of business other than that mentioned in the Proposal of the Notice of Meeting that will be presented for consideration at
the Meeting. If any other matter is properly presented, it is the intention of the persons named in the enclosed proxy to vote in accordance
with their best judgment.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The Fund will furnish, without charge, a copy of its annual report
for its fiscal year ended October&nbsp;31, 2022, to any stockholder requesting such report. Requests for the annual report should be
made by writing The China Fund, Inc., c/o Computershare Fund Services, PO Box 5696, Hauppauge, NY 11788-2847, by accessing the Fund&rsquo;s
website at www.chinafundinc.com or by calling (888)&nbsp;246-2255.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IMPORTANT INFORMATION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The proxy statement discusses important
matters affecting the Fund. Please take the time to read the proxy statement, and then cast your vote. <B>You may obtain additional
copies of the Notice of Meeting, Proxy Statement and form of proxy card by calling (888)&nbsp;246-2255 or by accessing </B><U>https://www.proxy-direct.com/chn-33175</U>.
There are multiple ways to vote. Choose the method that is most convenient for you. To vote by telephone or Internet, follow the
instructions provided on the proxy card. To vote by mail simply fill out the proxy card and return it in the enclosed postage-paid
reply envelope. <B>Please do not return your proxy card if you vote by telephone or Internet. </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ELECTION OF DIRECTOR</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Fund&rsquo;s By-Laws
provide that the Board is to be divided into three classes: Class I, Class II and Class&nbsp;III. The terms of office of the present directors
(each a &ldquo;Director&rdquo;) in each class expire at the Annual Meeting of Stockholders in the year indicated or thereafter in each
case when their respective successors are elected and qualified: Class I, 2024; Class II, 2025; and Class III, 2026. At each subsequent
annual election, Directors chosen to succeed those whose terms are expiring will be identified as being in the same class and will be
elected for a three-year term. The effect of these staggered terms is to limit the ability of other entities or persons to acquire control
of the Fund by delaying the replacement of a majority of the Board.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Board has nominated George
Iwanicki to serve as a Class III director of the Fund until the Fund&rsquo;s 2026 Annual Meeting of Stockholders or until his successor
is duly elected and qualified.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The persons named in the
accompanying form of proxy card intend, in the absence of contrary instructions, to vote all proxies for the election of Mr. Iwanicki
to serve for a term expiring on the date on which the Annual Meeting of Stockholders is held in 2026, or until his successor is elected
and qualified. Mr. Iwanicki has indicated that he will serve if elected. If Mr. Iwanicki should be unable to serve, an event not now
anticipated, the proxies will be voted for such person, if any, as is designated by the Board to replace Mr. Iwanicki. The election of
a Director will require the affirmative vote of a majority of the votes cast at the Meeting. Presence at the Meeting, in person or by
proxy, of a stockholder who does not cast a vote will have no effect on the outcome of the election.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION RELATING TO PROPOSAL</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Information Concerning the Nominee and Members
of the Board of Directors </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The following table provides
information concerning the nominee and other members of the Board each of whom is not an &ldquo;interested person&rdquo; of the Fund,
as that term is defined in Section&nbsp;2(a)(19) of the Investment Company Act of 1940, as amended (the &ldquo;1940 Act&rdquo;), and therefore
is deemed to be &ldquo;independent.&rdquo;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; width: 19%">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Name (Age) and</B></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Address<SUP>(1)</SUP> of Directors or</B></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Nominees for Director</B></P></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Position(s)<BR>
Held with<BR>
Fund</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Director Since (Term Ends)</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 19%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Principal Occupation(s) or Employment During Past Five Years</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Number of Funds in the Complex<SUP>(2)</SUP> Overseen by the Director or Nominee</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 19%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Other Directorships Held by Director or Nominee for Director in Publicly Held Companies</B></FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>CLASS I</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="background-color: Gainsboro">
    <TD STYLE="vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Julian Reid (78)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chairman<BR>
of the<BR>
Board and<BR>
Director</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2018</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2024)</P></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director and Chairman of 3a Funds Group (1998- present).</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director and Chairman of the Board, The Korea Fund, Inc.</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>CLASS II</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="background-color: Gainsboro">
    <TD STYLE="vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Richard A. Silver (76)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2018</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2025)</P></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Retired. </FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director, The Korea Fund, Inc.</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Yan Hu (61)</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2022</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2025)</P></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">Owner, Ink Stone Ltd. (2020-present); Advisor, Vermilion Partners (2016-present).</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">1</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director, The Korea Fund, Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: Gainsboro">
    <TD STYLE="padding-top: 3pt; padding-right: 3pt; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>CLASS III</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">George J. Iwanicki (61)</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">&nbsp;</P></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD>
    <TD COLSPAN="2">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2020</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2023)</P></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">GEM/Asia-Pacific Equity Investment Strategist, JP Morgan Asset Management (1992-2019).</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;1</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">None.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 11pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 11pt">For purposes of Fund business, all Directors or Nominees for Directors,
may be contacted at the following address: c/o Brown Brothers Harriman &amp; Co., 50 Post Office Square, Boston, MA 02110.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 0.25in"><SUP>(2)</SUP></TD><TD STYLE="text-align: justify">The term &ldquo;Fund Complex&rdquo; means two or more registered investment companies that share the same
investment adviser or principal underwriter or hold themselves out to investors as related companies for the purposes of investment and
investor services.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Leadership Structure and Board of Directors</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Board has general oversight
responsibility with respect to the business and affairs of the Fund. The Board is responsible for overseeing the operations of the Fund
in accordance with the provisions of the 1940 Act, other applicable laws and the Fund&rsquo;s Articles of Incorporation. The Board is
currently composed of four Independent Directors and one of the Independent Directors serves as Chairman of the Board. Generally, the
Board acts by majority vote of all of the Directors, including a majority vote of the Independent Directors if required by applicable
law. The Fund&rsquo;s day-to-day operations are managed by Matthews International Capital Management, LLC, the Fund&rsquo;s Investment
Manager, and other service providers who have been approved by the Board. The Board meets periodically throughout the year to oversee
the Fund&rsquo;s activities, review contractual arrangements with service providers, oversee compliance with regulatory requirements and
review performance. The Board has determined that its leadership structure is appropriate given the size of the Board, the fact that all
of the Directors are not interested persons, and the nature of the Fund.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Directors were
selected to serve and continue on the Board based upon their skills, experience, judgment, analytical ability, diligence, ability to
work effectively with other Directors and a commitment to the interests of stockholders and a demonstrated willingness to take an
independent and questioning view of management. Each Director also has considerable familiarity with the Fund and its administrator,
and their operations, as well as the special regulatory requirements governing regulated investment companies and the special
responsibilities of investment company directors as a result of their substantial prior service as a Director or officer of the Fund
and, in several cases, as a director or executive of other investment companies. In addition to those qualifications, the following
is a brief summary of the specific experience, qualifications or skills that led to the conclusion, as of the date of this Proxy
Statement, that each person identified below should serve as a Director for the Fund. References to the qualifications, attributes
and skills of the Directors are pursuant to requirements of the Securities and Exchange Commission (&ldquo;SEC&rdquo;), and do not
constitute a holding out of the Board or any Director as having any special expertise and should not be considered to impose any
greater responsibility or liability on any such person or on the Board by reason thereof than the normal responsibility and
liability of an investment company board member or board. As required by rules the SEC has adopted under the 1940 Act, the
Fund&rsquo;s Independent Directors select and nominate all candidates for Independent Director positions.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Julian Reid: Mr. Reid has
been involved in both US and international investment management for over 50 years and was based in Asia, between Hong Kong and Singapore,
for more than half that time making regular business visits to China from 1978. Mr. Reid served inter alia as head of the investment company
business for Jardine Fleming, at the time a leading investment management company in Asia subsequently acquired by JP Morgan, and as the
chairman and/or a director of numerous investment companies listed across Asia, or in London &amp; New York. He is an Affiliate of the
Securities Industry of Australia and has been licensed by the respective regulatory bodies in the United Kingdom, Hong Kong, Singapore
and Australia. In 2007, Mr. Reid was named &quot;Small Board Trustee of the Year&quot; by Fund Directions, a U.S. magazine focusing on
corporate governance matters, for his work as the independent chairman of The Korea Fund, Inc.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Richard A. Silver: Mr. Silver
has more than 30 years of senior executive experience in the investment management industry. Mr. Silver served as treasurer and chief
financial officer of all Fidelity Mutual Funds and as executive vice president of Fidelity Investments, during which time he oversaw accounting,
financial reporting and related operations for more than 400 mutual funds and 2,300 other investment portfolios. He also served as senior
vice president, treasurer and chief financial officer of The Colonial Group, Inc. for nearly 19 years, heading the company's financial
services group. In addition, Mr. Silver served as the chairman of the Accounting/Treasurers' Committee of the Investment Company Institute
for approximately seven years.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">George J. Iwanicki: Mr.
Iwanicki has more than 30 years of experience in the financial industry, most recently as a Managing Director at JP Morgan Asset Management ("JPMAM"), serving
as an Economist, Investment Strategist, and Portfolio Manager in both Developed and Emerging Markets. Formally trained in
Mathematics and Economics, Mr. Iwanicki spent five years on a collaborative sell-side economics research team at Kidder, Peabody
&amp; Co. before joining JPMAM  as their US Economist in 1992. He spent the next eight years focusing on
Developed Markets in a series of roles that evolved from Economics to Investment Strategy and Asset Allocation. In 2000, Mr.
Iwanicki accepted the role of Macro Strategist for the Global Emerging Markets Equity effort, responsible for driving asset
allocation and investment strategy across the GEM Equity platform. Over the following decade, he built a quantitative research team,
which developed a series of quantitative investment models driving a highly successful GEM Equity investment product. As a member of
the GEM Operating Committee, from 2014 through 2019 Mr. Iwanicki helped manage an internal merger of the GEM and Asia-Pacific Equity
teams within JPMAM, reverting to the Macro Strategist role for the combined entity in the interest of harmonizing research platforms
and asset allocation strategies. Simultaneously, from 2016 through 2019, Mr. Iwanicki served on JPMAM&rsquo;s Investment Strategy
Review Committee, which performed internal due diligence across the firm&rsquo;s funds, vetting methods, benchmarks, performance,
and presentation materials.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Yan Hu: Ms. Hu has over 30
years of experience advising and managing international financial services firms. She currently serves as an advisor to Vermilion Partners,
an affiliate of&nbsp;Natixis&nbsp;SA providing China related cross-border M&amp;A advisory services. She is also an advisor and a partner
in China with Investment &amp; Pension Europe, an institutional investor focused industry publication. Ms. Hu was a Managing Director
and head of Vermilion&rsquo;s Financial Institutions Group during 2012-2016. Prior to joining Vermilion, Ms. Hu was the Country Head and
Chief Representative for Sun Life Financial in China from 2007 to 2012 during which she oversaw all of Sun Life group&rsquo;s China-related
activities, including market entry initiatives in pension and investment business and shareholding restructuring of their 50/50 life insurance
joint venture with China Everbright Group. Throughout her career, Ms. Hu has provided advisory services to leading international and Chinese
domestic financial service institutions on their Asian business strategies. Her experience also expands to North Asian economies and has
covered other European countries at the request of her Chinese financial institution client for acquisition opportunity in insurance,
asset management and securities sectors. Ms. Hu has recently joined the board of The Korea Fund.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Fund&rsquo;s Board has
an Audit, Valuation and Compliance Committee (&ldquo;Audit Committee&rdquo;), which is responsible for reviewing financial and accounting
matters. The Fund&rsquo;s Audit Committee is comprised of Messrs. Silver, Reid and Iwanicki, and Ms. Hu, all of whom are not interested
persons of the Fund (as defined in Section&nbsp;2(a)(19) of the 1940 Act), and its actions are governed by the Fund&rsquo;s written Audit
Committee Charter. If elected by the Fund&rsquo;s stockholders at the Meeting, Mr. Iwanicki will be re-elected by the Board to the Audit
Committee. All members of the Audit Committee are independent as independence is defined in the New York Stock Exchange, Inc.&rsquo;s
listing standards, as may be modified or supplemented. The Audit Committee was established in accordance with Section&nbsp;3(a)(58)(A)
of the Securities Exchange Act of 1934, as amended (the &ldquo;1934 Act&rdquo;). The Audit Committee met five times during the fiscal
year ended October&nbsp;31,&nbsp;2022. The Audit Committee has a charter, which is available on the Fund&rsquo;s website (www.chinafundinc.com).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Fund&rsquo;s Board has
a Governance, Nominating and Compensation Committee (&ldquo;Governance Committee&rdquo;), which is responsible for nominating candidates
to fill any vacancies on the Board. The Fund&rsquo;s Governance Committee is comprised of Messrs. Silver, Reid and Iwanicki, and Ms. Hu,
all of whom are not interested persons of the Fund (as defined in Section&nbsp;2(a)(19) of the 1940 Act), and its actions are governed
by the Fund&rsquo;s written Governance Committee Charter. All of the members of the Governance Committee are independent as independence
is defined in the New York Stock Exchange, Inc.&rsquo;s listing standards, as may be modified or supplemented and are not interested persons
of the Fund. Currently, the Governance Committee does not have a policy to consider nominees recommended by stockholders. The Governance
Committee believes that it is not necessary to have such a policy because the Board consists entirely of Directors who are not interested
persons of the Fund (as defined in Section&nbsp;2(a)(19) of the 1940 Act). The Governance Committee evaluates a candidate&rsquo;s qualifications
for Board membership and the candidate&rsquo;s independence from the Fund&rsquo;s Investment Manager and other principal service providers.
The Governance Committee does not have specific minimum qualifications that must be met by candidates recommended by the Governance Committee
and there is not a specific process for identifying such candidates. In nominating candidates, the Governance Committee takes into consideration
such factors as it deems appropriate. These factors may include judgment, skill, diversity, experience with businesses or other organizations
of comparable size, the interplay of the candidate&rsquo;s experience with the experience of other Board members, requirements of the
New York Stock Exchange and the SEC to maintain a minimum number of independent or non-interested directors, requirements of the SEC as
to disclosure regarding persons with financial expertise on the Fund&rsquo;s Audit Committee and the extent to which the candidate generally
would be a desirable addition to the Board and any committees of the Board. The Governance Committee believes the Board generally benefits
from diversity of background, experience, and views among its members, and considers this a factor in evaluating the composition of the
Board but has not adopted any specific policy in this regard. The Governance Committee met three times during the fiscal year ended October&nbsp;31,
2022. The Governance Committee has a charter, which is available on the Fund&rsquo;s website (www.chinafundinc.com).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Fund&rsquo;s Board
has a Contracts Committee, which is responsible for the review of the Fund&rsquo;s contractual arrangements with the Fund&rsquo;s
service providers. The Contracts Committee reviews contracts with the Fund&rsquo;s service providers at least annually and makes
recommendations to the Board with respect to service provider contracts. The current members of the Contracts Committee are Messrs.
Silver, Reid and Iwanicki, and Ms. Hu, all of whom are not interested persons of the Fund (as defined in Section&nbsp;2(a)(19) of
the 1940 Act), and its actions are governed by the Fund&rsquo;s written Contracts Committee Charter.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Fund has an Investment
Committee, which is responsible for assisting the Board with all investment manager selection and implementation and for reviewing such
investment managers for compliance and performance relative to objectives. The current members of the Investment Committee are Messrs.
Silver, Reid and Iwanicki, and Ms. Hu, all of whom are not interested persons of the Fund (as defined in Section&nbsp;2(a)(19) of the
1940 Act), and its actions are governed by the Fund&rsquo;s written Investment Committee Charter.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Fund has a Discount Management
Committee, which is responsible for making determinations between meetings of the Board regarding the Fund&rsquo;s Discount Management
Program. The current members of the Discount Management Committee are Messrs. Silver, Reid and Iwanicki and Ms. Hu, all of whom are not
interested persons of the Fund (as defined in Section&nbsp;2(a)(19) of the 1940 Act), and its actions are governed by the Fund&rsquo;s
written Discount Management Committee Charter.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Fund does not have a
specified process for stockholders to send communications to the Board since stockholders may communicate directly with the Board at the
Annual Meeting of Stockholders and by way of the Chairman&rsquo;s contact information disclosed on every report of the Fund. The Board
welcomes communication from stockholders.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Fund does not have a
policy regarding Board member&rsquo;s attendance at the Annual Meeting of Stockholders. However, each Director, other than Ms. Hu, attended the 2022 Annual Meeting of Stockholders. At the time of the 2022 Annual Meeting of
Stockholders, Ms. Hu had not yet been elected to the Board.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Fund&rsquo;s Board
of Directors held four regular meetings during the fiscal year ended October&nbsp;31, 2022. Each Director, other than Ms. Hu,
attended every meeting and of any committee meeting on which he   served. Ms. Hu attended every meeting, including committee
meetings on which she served after she was elected as a Director of the Fund on May 3, 2022. The Board expects every member to
attend each meeting of the Board or a committee either in person or by telephone.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Risk Oversight</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The day-to-day operations
of the Fund, including the management of risk, is performed by third-party service providers, such as the Fund&rsquo;s Investment Manager,
Administrator (Brown Brothers Harriman &amp; Co.), and Foreside Fund Officer Services, LLC, which provides Chief Compliance Officer and
Treasury services for the Fund. The Directors are responsible for overseeing the Fund&rsquo;s service providers and thus have oversight
responsibilities with respect to risk management performed by those service providers. Risk management seeks to identify and address risks,
<I>i.e.</I>, events or circumstances that could have material adverse effects on the business, operations, stockholder services, investment
performance or reputation of the Fund. The Fund and its service providers employ a variety of processes, procedures, and controls to identify
certain of those possible events or circumstances, to lessen the probability of their occurrence and/or to mitigate the effects of such
events or circumstances if they do occur.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Not all risks that may affect
the Fund can be identified nor can controls be developed to eliminate or mitigate their occurrence or effects. It may not be practical
or cost effective to eliminate or mitigate certain risks, the processes and controls employed to address certain risks may be limited
in their effectiveness, and some risks are simply beyond the reasonable control of the Fund or the Investment Manager or other service
providers. Moreover, it is necessary to bear certain risks (such as investment-related risks) to achieve the Fund&rsquo;s goals. As a
result of the foregoing and other factors, the Fund&rsquo;s ability to manage risk is subject to certain limitations.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Risk oversight forms part
of the Board&rsquo;s general oversight of the Fund and is addressed as part of various Board and Committee activities. As part of its
regular oversight of the Fund, the Board, directly or through a Committee, interacts with and reviews reports from, among others, the
Investment Manager, the Fund&rsquo;s Chief Compliance Officer and the Fund&rsquo;s independent registered public accounting firm, as appropriate,
regarding risks faced by the Fund. The Board is responsible for overseeing the nature, extent and quality of the services provided to
the Fund by the Investment Manager and receives information about those services at its regular meetings. In addition, on an annual basis,
in connection with its consideration of whether to renew the Fund&rsquo;s advisory agreement, the Board meets with the Investment Manager
to review the services provided. Among other things, the Board regularly considers the Investment Manager&rsquo;s adherence to the Fund&rsquo;s
investment restrictions and compliance with various Fund policies and procedures and with applicable securities regulations. The Board
has appointed a Chief Compliance Officer who oversees the implementation and testing of the Fund&rsquo;s compliance program and reports
to the Board regarding compliance matters for the Fund and its service providers. The Board, with the assistance of the Investment Manager,
reviews investment policies and risks in connection with its review of the Fund&rsquo;s performance. In addition, as part of the Board&rsquo;s
oversight of the Fund&rsquo;s Investment Manager and other service provider agreements, the Board may periodically consider risk management
aspects of their operations and the functions for which they are responsible.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section&nbsp;16(a) Beneficial Ownership Reporting
Compliance</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Section&nbsp;16(a) of the
1934 Act requires the Fund&rsquo;s officers and Directors, and beneficial owners of more than ten percent of a registered class of the
Fund&rsquo;s equity securities, to file reports of ownership and changes in ownership with the SEC and the New York Stock Exchange, Inc.
Section&nbsp;30(h) of the 1940 Act extends the reporting requirements under Section&nbsp;16(a) of the 1934 Act to the Investment Manager
of the Fund and the Officers and Directors of the Investment Manager. The Fund believes that its Officers and Directors and the Officers
of the Investment Manager have complied with all applicable filing requirements for the fiscal year ended October&nbsp;31, 2022.</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Officers of the Fund</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The following table provides
information concerning each of the officers of the Fund.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; width: 25%">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Name (Age) and</B></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Address
    of Officers</B></P></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 17%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Position(s)&nbsp;Held&nbsp;with&nbsp;Fund</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 15%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Officer</B><BR>
<B>Since</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 40%">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>Principal Occupation(s) or Employment</B></P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>During Past Five Years</B></P></TD></TR>
  <TR STYLE="background-color: Gainsboro">
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Theresa Noriega-Lum (57)</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Matthews Asia</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">4 Embarcadero Center, Suite 550</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">San Francisco, CA
    94111</P></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">President</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">2022</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Chief Financial Officer, Matthews International Capital Management, LLC (2018-Present); Head of Business Initiatives, BlackRock (2004-2018). </FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">Patrick Keniston
    (59)</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">Foreside Fund Officer</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">Services, LLC</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">Three Canal Plaza,</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">Suite 100,</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">Portland, ME 04101</P></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Chief Compliance Officer and Secretary</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Chief Compliance Office Since 2011; Secretary Since 2019</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Managing Director, Foreside Fund Officer Services, LLC (2008-Present).</FONT></TD></TR>
  <TR STYLE="background-color: Gainsboro">
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">Monique Labbe (49)</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">Foreside Fund Officer</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">Services, LLC</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-align: justify; text-indent: -12pt">Three Canal Plaza,
    Suite 100, Portland, ME 04101</P></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Treasurer</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">2015</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Fund Principal Financial Officer,</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Foreside Fund Officer Services, LLC (2014-present)</P></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Ownership of Securities</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The following table sets
forth information regarding the ownership of securities in the Fund by the Directors and Nominee for Director as of December&nbsp;31,
2022.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">Name of Director or Nominee</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: justify; border-bottom: Black 1pt solid">Dollar&nbsp;Range&nbsp;of&nbsp;Equity
    Securities in the Fund</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Aggregate&nbsp;Dollar&nbsp;Range&nbsp;of&nbsp;Equity
    Securities&nbsp;in all Funds Overseen or to be Overseen by Director or Nominee in the Fund Complex <SUP>(1)</SUP></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: justify; text-indent: -12pt; padding-left: 12pt">Julian Reid</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">$1-$10,000</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">$1-$10,000</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: -12pt; padding-left: 12pt">Richard A. Silver</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">$10,001-$50,000</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">$10,001-$50,000</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: justify; text-indent: -12pt; padding-left: 12pt">George J. Iwanicki</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">$10,001-$50,000</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">$10,001-$50,000</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 54%; text-align: justify; text-indent: -12pt; padding-left: 12pt">Yan Hu</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left"></TD><TD STYLE="width: 20%; text-align: right">$0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left"></TD><TD STYLE="width: 20%; text-align: right">$0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 1pt; margin-bottom: 1pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: black 0.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">The term &ldquo;Fund Complex&rdquo; means two or more registered investment companies that share the same investment adviser or principal underwriter or hold themselves out to investors as related companies for the purposes of investment and investor services. The Fund is the only fund in the Fund Complex overseen by the Directors. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Transactions with and Remuneration of Officers
and Directors</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The aggregate remuneration
for Directors was $223,696 during the fiscal year ended October&nbsp;31, 2022, and, for that period, the aggregate amount of expenses
reimbursed by the Fund for Directors&rsquo; attendance at Directors&rsquo; meetings was $10,890. The Chairman of the Fund, Chairman of
the Audit Committee, and all other Directors currently receive an annual fee of $70,000, $64,000, and $56,000, respectively.&nbsp; In
addition to the annual fee, for each special Board or Committee meeting which is held in person, each Director is entitled to a fee of
$3,000, and for each special Board or Committee meeting held telephonically, each Director is entitled to a fee of $1,000. Two special Board
meetings were held telephonically during the fiscal year ended October 31, 2022.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The following table sets
forth the aggregate compensation from the Fund paid to each Director during the fiscal year ended October&nbsp;31, 2022. The Fund does
not compensate the officers of the Fund.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"></P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Name of Director</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Aggregate</B><BR> <B>Compensation</B><BR> <B>From Fund<SUP>(1)</SUP></B></FONT></TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold">Pension&nbsp;or&nbsp;Retirement Benefits Accrued As Part of Fund Expenses</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold">Estimated<BR> Annual Benefits<BR> Upon&nbsp;Retirement</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Total&nbsp;Compensation<BR> From Fund and Fund Complex Paid<BR> To Directors<SUP>(2)</SUP></B></FONT></TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="width: 32%; text-align: justify; text-indent: -12pt; padding-left: 12pt">Julian Reid</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">72,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">72,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: -12pt; padding-left: 12pt">Richard A. Silver</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">66,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">66,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="text-align: justify; text-indent: -12pt; padding-left: 12pt">George J. Iwanicki</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">58,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">58,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: -12pt; padding-left: 12pt">Yan Hu<SUP>(3)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">27,696</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">27,696</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><SUP>(1)</SUP></TD><TD STYLE="text-align: justify">Includes compensation paid to Directors by the Fund. The Fund&rsquo;s Directors did not receive any pension
or retirement benefits as compensation for their service as Directors of the Fund.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"><SUP>(2)</SUP></TD><TD STYLE="text-align: justify">There is one fund in the Fund Complex overseen by the Directors.</TD></TR><TR STYLE="vertical-align: top">
<TD><SUP>(3)</SUP></TD><TD STYLE="text-align: justify">Ms. Hu was elected to the Fund's Board of Directors on May 3, 2022.</TD></TR>
                                                                                                                                                                                     </TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Stockholder Approval</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The election of Mr. Iwanicki
will require the affirmative vote of the holders of a majority of the shares of common stock of the Fund cast at the Meeting.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE BOARD OF DIRECTORS OF THE FUND RECOMMENDS
THAT THE STOCKHOLDERS VOTE &ldquo;FOR&rdquo; THE ELECTION OF THE DIRECTOR.</B>&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GENERAL INFORMATION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Investment Manager</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Matthews International Capital Management, LLC
acts as the Investment Manager to the Fund pursuant to an Investment Advisory and Management Agreement between the Investment Manager
and the Fund. The principal business address of the Investment Manager is Four Embarcadero Center Suite 550 San Francisco, Ca 94111.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Fund Administration</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Brown Brothers Harriman &amp;
Co. acts as Administrator to the Fund pursuant to an Administration Agreement between the Administrator and the Fund. The principal business
address of the Administrator is Brown Brothers Harriman &amp; Co., 50 Post Office Square, Boston, Massachusetts 02110.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Independent Registered Public Accounting Firm</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Tait Weller served as the
Fund&rsquo;s independent registered public accounting firm for the fiscal years ended October&nbsp;31, 2021, and October&nbsp;31, 2022,
auditing and reporting on the annual financial statements of the Fund and reviewing certain regulatory reports and the Fund&rsquo;s federal
income tax returns. Tait Weller also performed other professional audit and certain allowable non-audit services, including tax services,
when the Fund engaged it to do so. Representatives of Tait Weller are not expected to be available at the Meeting.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The engagement of Tait Weller
as the Fund&rsquo;s independent registered public accounting firm was approved by the Audit Committee of the Board of Directors and ratified
by the full Board of Directors.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><U>Audit Fees.</U> The aggregate
fees billed by Tait Weller in connection with the annual audit of the Fund for the fiscal years ended October&nbsp;31, 2021, and October
31, 2022, were $50,000 and $50,000, respectively.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><U>Audit-Related Fees.</U>
For the fiscal years ended October&nbsp;31, 2021, and October 31, 2022, Tait Weller did not bill the Fund any fees for assurances and
related services that were reasonably related to the performance of the audit or review of the Fund&rsquo;s financial statements and were
not reported under the section Audit Fees above.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><U>Tax Fees.</U> The aggregate
fees billed by Tait Weller for professional services rendered for tax compliance, tax advice and tax planning (consisting of a review
of the Fund&rsquo;s income tax returns and tax distribution requirements) for the fiscal years ended October&nbsp;31, 2021, and October
31, 2022, were $5,000 and $5,000, respectively.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><U>All Other Fees.</U> For
the fiscal years ended October&nbsp;31, 2021, and October 31, 2022, Tait Weller did not bill the Fund any fees for products and services
other than those disclosed above.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><U>Audit Committee Pre-approval.</U>
The Audit Committee&rsquo;s policy is to pre-approve all auditing and non-auditing services to be provided to the Fund by the Fund&rsquo;s
independent registered public accounting firm. All of the audit and the tax services described above for which Tait Weller billed the
Fund fees for the fiscal years ended October&nbsp;31, 2021, and October 31, 2022, were pre-approved by the Audit Committee.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><U>Non-Audit Fees. </U>For
the fiscal years ended Oct October&nbsp;31, 2021, and October 31 2022, Tait Weller did not provide any non-audit services to Matthews
International Capital Management, LLC, the Fund&rsquo;s Investment Manager, or any other entity in the Fund&rsquo;s Investment Company
Complex.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Audit Committee Report</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Audit Committee has
reviewed and discussed the Fund&rsquo;s audited financial statements for the fiscal year ended October&nbsp;31, 2022, with management
of the Fund and with Tait Weller, and has discussed with Tait Weller the matters required to be discussed by Public Company Accounting
Oversight Board (&ldquo;PCAOB&rdquo;) Standard No.&nbsp;16 (Communication with Audit Committees), as may be modified or supplemented.
The Audit Committee has received the written disclosures and the letter on auditor independence from Tait Weller required by PCAOB Rule
3526 (Communications with Audit Committees Concerning Independence), as may be modified or supplemented, and has discussed with Tait
Weller its independence. Based on the Audit Committee review and discussions referred to in the two preceding sentences, the Audit Committee
recommended to the Board of Directors that the audited financial statements of the Fund for the fiscal year ended October&nbsp;31, 2022,
be included in its annual report to stockholders and the Fund&rsquo;s annual report filed with the Securities and Exchange Commission.&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24.5pt; text-align: justify">Richard A. Silver &ndash; Audit Committee
Chairman</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24.5pt; text-align: justify">Julian Reid &ndash; Audit Committee
Member</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24.5pt; text-align: justify">George J. Iwanicki &ndash; Audit Committee
Member</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24.5pt; text-align: justify">Yan Hu &ndash; Audit Committee Member</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Set
forth below is information with respect to persons who are registered as beneficial owners of more than 5% of the Fund&rsquo;s outstanding
shares as of January 23, 2023. </FONT>&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><B>Title of
    Class</B></P></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Name and Address</B></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Shares</B></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Percent&nbsp;of&nbsp;Class</B></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="background-color: Gainsboro">
    <TD STYLE="vertical-align: top; width: 40%; padding-left: 12pt; text-align: justify; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Common Stock</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 29%">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">CEDE &amp; CO</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Bowling Green STN</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">P. O. Box 20</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New&nbsp;York,&nbsp;NY&nbsp;10274-0020</P></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 12%">10,123,307</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: top; width: 12%">99.66</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">The shares held by Cede&nbsp;&amp;
Co. include the accounts set forth below. This information is based on publicly available information such as Schedule 13D and 13G disclosures
filed with the SEC or other similar regulatory filings from foreign jurisdictions.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><B>Title of
    Class</B></P></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Name and Address</B></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Shares</B></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Percent&nbsp;of Class</B></FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="background-color: Gainsboro">
    <TD STYLE="vertical-align: top; width: 40%; padding-left: 12pt; text-align: justify; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Common Stock</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 29%">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">City&nbsp;of&nbsp;London&nbsp;Investment<BR>
    Management Co. Ltd.</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">77 Gracechurch Street</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">London EC3V 0AS</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">England</P></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 12%; text-align: left">3,504,582</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: top; width: 12%">33.94</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 1%; text-align: left">%</TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-align: justify; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Common Stock</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Lazard Asset Management</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">30 Rockefeller Plaza</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, NY 10112</P></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">1,623,782</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: top">15.73</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">%&nbsp;</FONT></TD></TR>
  <TR STYLE="background-color: Gainsboro">
    <TD STYLE="vertical-align: top; padding-left: 12pt; text-align: justify; text-indent: -12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Common Stock</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Allspring Global Investments, LLC</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">525 Market Street, 12<SUP>th</SUP> Floor, San Francisco, CA 94105</P></TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">1,252,247</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: right; vertical-align: top">12.13</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">%</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MISCELLANEOUS</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Proxies will be solicited
by mail or by telephone or facsimile or other electronic means, by officers of the Fund or personnel of the Administrator. The Fund has
retained Computershare Fund Services to assist in the proxy solicitation. The total cost of proxy solicitation services, including legal
and printing fees, is estimated at $3,798 plus out-of-pocket expenses. The expenses connected with the solicitation of proxies including
proxies solicited by the Fund&rsquo;s officers or agents in person, by telephone or by facsimile or other electronic means will be borne
by the Fund. The Fund will reimburse banks, brokers, and other persons holding the Fund&rsquo;s shares registered in their names or in
the names of their nominees for their expenses incurred in sending proxy material to and obtaining proxies from the beneficial owners
of such shares.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">In the event that sufficient
votes in favor of the proposal set forth in the Notice of this Meeting are not received by March&nbsp;9, 2023, the persons named as proxies
in the enclosed proxy may propose one or more adjournments of the Meeting to permit further solicitation of proxies. Any such adjournment
will require the affirmative vote of the holders of a majority of the shares present in person or by proxy at the session of the Meeting
to be adjourned. The persons named as proxies in the enclosed proxy will vote in favor of such adjournment those proxies which they are
entitled to vote in favor of the proposal for which further solicitation of proxies is to be made. They will vote against any such adjournment
those proxies required to be voted against such proposal. The costs of any such additional solicitation and of any adjourned session will
be borne by the Fund.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">If possible, depending on shareholder registration and address
information, and unless you have otherwise opted out, only one copy of this Proxy Statement will be sent to shareholders at the same
address. However, each shareholder will receive separate proxy cards. If you would like to receive a separate copy of this Proxy
Statement, please call (888)&nbsp;246-2255 or by accessing <U>https://www.proxy-direct.com/chn-33175</U>. If you would like to
receive a separate copy of future proxy statements, or you are now receiving multiple copies of proxy statements and would like to
receive a single copy in the future, please contact the number above.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>STOCKHOLDER PROPOSALS</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">In order to submit a stockholder
proposal to be considered for inclusion in the Fund&rsquo;s proxy statement for the Fund&rsquo;s 2024 Annual Meeting of Stockholders,
stockholder proposals must be received by the Fund (addressed to The China Fund, Inc., c/o Brown Brothers Harriman &amp; Co., 50 Post
Office Square, Boston, Massachusetts 02110) not later than October 14, 2023. Any stockholder who desires to bring a proposal at the
Fund&rsquo;s 2023 Annual Meeting of Stockholders without including such proposal in the Fund&rsquo;s Proxy Statement, must deliver written
notice thereof to the Secretary of the Fund (addressed to The China Fund, Inc., c/o Secretary of the Fund / Brown Brothers Harriman &amp;
Co., 50 Post Office Square, Boston, Massachusetts 02110), not before December 10, 2023, and not later than January 9, 2024.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">By order of the Board of Directors,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Patrick Keniston</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Secretary</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">The China Fund, Inc.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">c/o Brown Brothers Harriman &amp; Co.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">50 Post Office Square</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Boston, Massachusetts 02110</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">February 10, 2023</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>


<!-- Field: Page; Sequence: 15 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EVERY STOCKHOLDER&rsquo;S VOTE IS IMPORTANT</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Important Notice Regarding the Availability
of Proxy Materials for</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The China Fund, Inc.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Stockholders Meeting to be held virtually on
March 9, 2023</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>The Proxy Statement for this meeting is available
at:</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">https://www.proxy-direct.com/chn-33175</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Please detach at perforation before mailing.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
their discretion, the proxy holders are authorized to vote upon the matters set forth in the Notice of Meeting and Proxy Statement
dated </FONT>February 10, 2023 <FONT STYLE="font-family: Times New Roman, Times, Serif">and upon all other such matters as may
properly come before the meeting or any adjournment thereof.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>TO VOTE MARK BLOCKS BELOW IN BLUE OR BLACK INK AS SHOWN IN THIS
Example: &nbsp;[X]</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt; text-align: justify; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>A </B></FONT></TD>
    <TD STYLE="text-align: justify; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Proposal&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors unanimously recommends a vote &ldquo;FOR&rdquo; the Proposal.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 99.35pt 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>1.&nbsp;&nbsp;&nbsp;&#8239;</B>To elect one Class III director:</FONT></TD>
    <TD COLSPAN="3" STYLE="text-align: center"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 85%; padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;George Iwanicki</FONT></TD>
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">FOR</FONT></TD>
    <TD STYLE="width: 5%; text-align: center">WITHHOLD</TD>
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">[&nbsp;&nbsp;]</TD>
    <TD STYLE="text-align: center">[&nbsp;&nbsp;]</TD>
    <TD STYLE="text-align: center">[&nbsp;&nbsp;]</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 99.35pt 0pt 0.25in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 20pt"><B>2.</B></TD><TD STYLE="text-align: justify; padding-right: 3in">To transact such other business as may properly come before the Meeting or any adjournments
thereof.</TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 117.35pt 0pt 0.25in; text-align: justify; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>B </B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Authorized Signatures &boxh; This section must be
    completed for your vote to be counted. &boxh; Sign and Date Below</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0pt"></TD><TD STYLE="width: 20pt; text-align: left"><B>Note</B>:</TD><TD STYLE="text-align: justify">Please sign exactly as your name(s) appear(s) on this Proxy Card,
and date it. When shares are held jointly, each holder should sign. When signing as attorney, executor, guardian, administrator, trustee,
officer of corporation or other entity or in another representative capacity, please give the full title under the signature.</TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 34%; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Date
    (mm/dd/yyyy) &boxh; Please print date below</B></FONT></TD>
    <TD STYLE="text-align: left; width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 32%; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Signature
    1 &boxh; Please keep signature within the box</B></FONT></TD>
    <TD STYLE="text-align: left; width: 1%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: left; width: 32%; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>Signature
    2 &boxh; Please keep signature within the box</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 24pt">/</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 24pt">/</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 11pt">Scanner bar code</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 11pt">xxxxxxxxxxxxxx</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 11pt">CHI 33175</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 11pt">xxxxxxxx</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>




<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>












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