The Greater China Fund, Inc. Declares Ordinary Income Dividend and Distribution of Long-Term Capital Gains

The Greater China Fund, Inc.

announced today that the Fund's Board of Directors declared a dividend of $0.139 per share of ordinary income and a distribution of long-term capital gains of $0.028 per share. The dividend and distribution are payable on December 30, 2011 to shareholders of record as of December 20, 2011. The ex-dividend date is December 16, 2011. The Fund is a non-diversified, closed-end management investment company that seeks long-term capital appreciation through investing primarily in listed securities of China companies, which are companies that (i) are organized under the laws of, and have their principal place of business in, China, Hong Kong or Taiwan or (ii) during their most recent fiscal year derived at least 50% of their revenues or profits from goods produced or sold, investments made or services performed in China, Hong Kong or Taiwan or have at least 50% of their assets in China, Hong Kong or Taiwan. There can be no assurance the Fund will achieve its objective. The Fund's investment adviser is Baring Asset Management (Asia) Limited.