The Greater China Fund, Inc. Declares Ordinary Income Dividend

NEWARK, NJ--(Marketwire - Dec 6, 2012) - The Greater China Fund, Inc. (the "Fund") (NYSE: GCH) announced today that the Fund's Board of Directors declared a dividend of $0.0507 per share of ordinary income. The dividend is payable on December 28, 2012 to shareholders of record as of December 18, 2012. The ex-dividend date is December 14, 2012. The dividend is being paid to enable the Fund to comply with its 2012 income distribution requirement under the IRS excise tax rules.

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.

Before investing in the Fund, investors should carefully consider the investment objectives, risks, and charges and expenses of the Fund. This information, including other information concerning the Fund, can be found in the Fund's filings with the Securities and Exchange Commission. An investor should carefully read these filings before investing.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy shares of the Fund nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

For more information on the Fund, visit www.greaterchinafund.com or call 1-877-FUND-GCH (1-877-386-3424).