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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 OR 15(d) of The</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">February 17, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>The China Fund, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">Maryland</TD>
    <TD STYLE="width: 38%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">811-05749</TD>
    <TD STYLE="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">000000000</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(State or other jurisdiction</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Commission</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(IRS Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">of incorporation)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">File Number)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">c/o State Street Bank and Trust Company</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">2 Avenue de Lafayette,</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">P.O. Box 5049, Boston, Massachusetts</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">02206-5049</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>1(888)246-2255</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">(Registrant&rsquo;s telephone number,
including area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt">[ ]</TD>
    <TD STYLE="width: 94%; padding-right: 5.4pt; padding-left: 5.4pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">[ ]</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">[ ]</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">[ ]</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Table of Contents</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Item 4.01. &nbsp;Changes in Registrant&rsquo;s
Certifying Accountant.</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Item 9.01.&nbsp; Financial Statements
and Exhibits<B>&nbsp;</B></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0 0 10.35pt; text-align: justify"><B>Item 4.01 Changes in Registrant&rsquo;s
Certifying Accountant </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: #231F20">Ernst &amp;
Young LLP (&ldquo;Ernst &amp; Young&rdquo;) was previously the independent registered public accounting firm for The China
Fund, Inc. (the &ldquo;Fund&rdquo;). Ernst &amp; Young notified the Fund that it does not meet the requirements for
independence under Public Company Oversight Board Rule No. 3520 with regard to Allianz, the parent company of RCM Asia
Pacific Limited, the Fund&rsquo;s new investment adviser which was appointed by the Board effective February 12, 2012 subject
to stockholder approval. As a result, Ernst &amp; Young resigned from its position as the Fund&rsquo;s</FONT> independent registered
public accounting firm on February 13, 2012<FONT STYLE="color: #231F20">. The Audit Committee and the Board of Directors are
in the process of selecting a new firm to serve as the Fund&rsquo;s independent registered public accounting firm for the
fiscal year ending October 31, 2012. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: #231F20">Neither of
Ernst &amp; Young</FONT>&rsquo;s reports on the Fund&rsquo;s financial statements for fiscal year ended in October 31, 2010
and 2011 contained an adverse opinion or a disclaimer of opinion, nor was either such report qualified or modified as to
uncertainty, audit scope or accounting principles. During the Fund&rsquo;s fiscal year ended October 31, 2010 and 2011, there
were no disagreements with <FONT STYLE="color: #231F20">Ernst &amp; Young </FONT>on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the
satisfaction of <FONT STYLE="color: #231F20">Ernst &amp; Young</FONT>, would have caused it to make reference to the subject
matter of the disagreement in its reports on the financial statements for such years. Ernst &amp; Young is authorized to
respond fully to the inquiries of the new firm concerning this matter, upon the appointment of the new firm.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 30, 2010, Ernst &amp; Young issued
its Reports of Registered Public Accounting Firm included in the Fund&rsquo;s Form N-SAR for the fiscal years October 31, 2010 and
2009 to reflect that subsequent to the filing of the Fund&rsquo;s Form N-SAR for its fiscal year ended October 31, 2009, management
identified certain weaknesses in the operation of the Funds controls in respect of the Fund&rsquo;s direct investment portfolio,
which generally consists of investments which are not publicly traded (direct investments). Specifically, those controls did not
operate to prevent the Fund from entering into a transaction in April 2009, being the purchase of Ugent Holdings Ltd. 12% bond
(Ugent), a transaction that involved certain related parties. Further, the controls did not operate with sufficient effectiveness
to allow management to detect this issue on a timely basis. The issue was identified in October 2010. Promptly upon identification
of the issue, the Fund&rsquo;s Board of Directors instructed Martin Currie Inc., the Fund&rsquo;s Direct Investment Manager at
the time, to suspend any further direct investment activity. In addition, a review by Martin Currie Inc. confirmed that there were
no similar occurrences in connection with any of the Fund&rsquo;s other direct investments. The Fund was reimbursed for the cost
of its investment, less any interest or other income received. The Audit Committee and the full Board of Directors discussed this
matter with Ernst &amp; Young.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund has requested that <FONT STYLE="color: #231F20">Ernst
&amp; Young </FONT>furnish a letter addressed to the Securities and Exchange Commission (&ldquo;SEC&rdquo;) stating whether it
agrees with the above statements. A copy of this letter, dated <FONT STYLE="color: #231F20">February 17, 2012</FONT>, along with
<FONT STYLE="color: #231F20">Ernst &amp; Young</FONT>&rsquo;s response, will be filed as an exhibit to the Fund&rsquo;s next Form
N-SAR (in accordance with Sub-Item 77k of Form N-SAR).</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 9.01.&nbsp; Financial Statements and Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Exhibits</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 91%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-decoration: underline">Exhibit No.</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-decoration: underline">Description</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">16</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Letter from Ernst &amp; Young LLP to the Securities and Exchange Commission dated February 17, 2012.</TD></TR>
</TABLE>


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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 51%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The China Fund, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(Registrant)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Dated: February 17, 2012</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Tracie A. Coop</U>____</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Name: Tracie A. Coop</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Title: Secretary</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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{"company-data": {"conformed-name": "CHINA FUND INC", "cik": "0000845379", "irs-number": "000000000", "state-of-incorporation": "MD", "fiscal-year-end": "1031"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "811-05749", "film-number": "12623866"}, "business-address": {"street1": "TWO AVENUE DE LAFAYETTE", "street2": "PO BOX 5049 (02206-5049)", "city": "BOSTON", "state": "MA", "zip": "02111", "phone": "6176622789"}, "mail-address": {"street1": "TWO AVENUE DE LAFAYETTE", "street2": "PO BOX 5049 (02206-5049)", "city": "BOSTON", "state": "MA", "zip": "02111"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The
Securities Exchange Act of 1934
February 17, 2012
Date of Report (Date of earliest event reported)
The China Fund, Inc.
(Exact name of registrant as specified in its
charter)
Maryland
811-05749
000000000
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
c/o State Street Bank and Trust Company
2 Avenue de Lafayette,
P.O. Box 5049, Boston, Massachusetts
02206-5049
(Address of principal executive offices)
(Zip Code)
1(888)246-2255
(Registrant's telephone number,
including area code)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Table of Contents
Item 4.01.  Changes in Registrant's
Certifying Accountant.
Item 9.01.  Financial Statements
and Exhibits
Signatures
Item 4.01 Changes in Registrant's
Certifying Accountant
Ernst &
Young LLP ("Ernst & Young") was previously the independent registered public accounting firm for The China
Fund, Inc. (the "Fund"). Ernst & Young notified the Fund that it does not meet the requirements for
independence under Public Company Oversight Board Rule No. 3520 with regard to Allianz, the parent company of RCM Asia
Pacific Limited, the Fund's new investment adviser which was appointed by the Board effective February 12, 2012 subject
to stockholder approval. As a result, Ernst & Young resigned from its position as the Fund's
independent registered
public accounting firm on February 13, 2012
. The Audit Committee and the Board of Directors are
in the process of selecting a new firm to serve as the Fund's independent registered public accounting firm for the
fiscal year ending October 31, 2012.
Neither of
Ernst & Young
's reports on the Fund's financial statements for fiscal year ended in October 31, 2010
and 2011 contained an adverse opinion or a disclaimer of opinion, nor was either such report qualified or modified as to
uncertainty, audit scope or accounting principles. During the Fund's fiscal year ended October 31, 2010 and 2011, there
were no disagreements with
Ernst & Young
on any matter of accounting principles or
practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the
satisfaction of
Ernst & Young
, would have caused it to make reference to the subject
matter of the disagreement in its reports on the financial statements for such years. Ernst & Young is authorized to
respond fully to the inquiries of the new firm concerning this matter, upon the appointment of the new firm.
On December 30, 2010, Ernst & Young issued
its Reports of Registered Public Accounting Firm included in the Fund's Form N-SAR for the fiscal years October 31, 2010 and
2009 to reflect that subsequent to the filing of the Fund's Form N-SAR for its fiscal year ended October 31, 2009, management
identified certain weaknesses in the operation of the Funds controls in respect of the Fund's direct investment portfolio,
which generally consists of investments which are not publicly traded (direct investments). Specifically, those controls did not
operate to prevent the Fund from entering into a transaction in April 2009, being the purchase of Ugent Holdings Ltd. 12% bond
(Ugent), a transaction that involved certain related parties. Further, the controls did not operate with sufficient effectiveness
to allow management to detect this issue on a timely basis. The issue was identified in October 2010. Promptly upon identification
of the issue, the Fund's Board of Directors instructed Martin Currie Inc., the Fund's Direct Investment Manager at
the time, to suspend any further direct investment activity. In addition, a review by Martin Currie Inc. confirmed that there were
no similar occurrences in connection with any of the Fund's other direct investments. The Fund was reimbursed for the cost
of its investment, less any interest or other income received. The Audit Committee and the full Board of Directors discussed this
matter with Ernst & Young.
The Fund has requested that
Ernst
& Young
furnish a letter addressed to the Securities and Exchange Commission ("SEC") stating whether it
agrees with the above statements. A copy of this letter, dated
February 17, 2012
, along with
Ernst & Young
's response, will be filed as an exhibit to the Fund's next Form
N-SAR (in accordance with Sub-Item 77k of Form N-SAR).
Item 9.01.  Financial Statements and Exhibits
(d)
Exhibits
.
Exhibit No.
Description
16
Letter from Ernst & Young LLP to the Securities and Exchange Commission dated February 17, 2012.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
The China Fund, Inc.
(Registrant)
Dated: February 17, 2012
/s/ Tracie A. Coop
____
Name: Tracie A. Coop
Title: Secretary