09:43     HSBC CHINA FUND<00504> - Announcement                               

    This announcement appears for information purposes only and does not      
    constitute an invitation or offer to acquire, purchase or subscribe for   
    shares of The HSBC China Fund Limited.                                    
                                                                              
    The Stock Exchange of Hong Kong Limited takes no responsibility for the   
    contents of this announcement, makes no representation as to its          
    accuracy or completeness and expressly disclaims any liability            
    whatsoever for any loss howsoever arising from or in reliance upon the    
    whole or any part of the contents of this announcement.                   
                                                                              
    THE HSBC CHINA FUND LIMITED                                               
    (Incorporated in the Cayman Islands with limited liability)               
    (Hong Kong Stock Code: 504)                                               
                                                                              
    Announcement                                                              
                                                                              
    The Company has been informed by the Hong Kong Stock Exchange that, with  
    effect from 9:30 a.m. on 22 April 2005 (Hong Kong time), the listing of   
    the Shares of the Company will be cancelled. The Company has also been    
    informed by the London Stock Exchange that listing of the Shares will be  
    cancelled with effect from 8:00 a.m. on 21 April 2005 (London time).      
                                                                              
    Reference is made to the announcement of The HSBC China Fund Limited      
    (the "Company") dated 3 February 2005 and the announcement of The Stock   
    Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") dated 21   
    April 2005.                                                               
                                                                              
    The Company has been informed by the Hong Kong Stock Exchange that the    
    listing of the shares of the Company (the "Shares") will be cancelled     
    with effect from 9:30 a.m. on 22 April 2005 (Hong Kong time) in           
    accordance with Rule 6.10 of the Rules Governing the Listing of           
    Securities on The Stock Exchange of Hong Kong Limited.                    
                                                                              
    Trading in the Shares on the Hong Kong Stock Exchange and the London      
    Stock Exchange has been suspended since 7 September 2004. On 4 February   
    2005, the Hong Kong Stock Exchange announced that it was proposing to     
    cancel the listing of the Shares on the Hong Kong Stock Exchange unless   
    the Company submitted a viable resumption proposal. The Company has not   
    submitted any such proposal to the Hong Kong Stock Exchange. Given that   
    any viable resumption proposal will need to demonstrate the Company's     
    compliance with the Listing Rules and that the Company has a business     
    suitable for listing and, in particular, any proposal by a third party    
    investor to effect a fundamental change in the nature of the Company's    
    business or management will be treated as an application for listing      
    from a new applicant, the directors of the Company had indicated in the   
    announcement of the Company dated 3 February 2005 that it was not         
    expected any viable resumption proposal would be submitted.               
                                                                              
    The Company has also been informed by the London Stock Exchange that      
    listing of the Shares on the London Stock Exchange will be cancelled      
    with effect from 8:00 a.m. on 21 April 2005 (London time).                
                                                                              
    The board of directors of the Company as at the date of this              
    announcement comprises Mr. Vincent Warner, being an executive director,   
    Dr. K. S. Lo, Sir Alan Donald and Mr. Nigel Tulloch, being independent    
    non-executive directors and Mr. Jack Mayer, being a non-executive         
    director.                                                                 
                                                                              
    By Order of the Board                                                     
    The HSBC China Fund Limited                                               
    K.S. Lo                                                                   
    Director                                                                  
                                                                              
    21 April 2005