Matthews Asia Growth Fund	September 30, 2020
Schedule of Investmentsa (unaudited)

COMMON EQUITIES: 95.0%
	Shares		Value
CHINA/HONG KONG: 42.7%
Wuxi Biologics Cayman, Inc.b,c,d		3,056,000		$74,896,658
Bilibili, Inc. ADRc		1,434,500		59,675,200
BeiGene, Ltd. ADRc		200,000		57,288,000
Innovent Biologics, Inc.b,c,d		6,984,500		52,084,782
Alibaba Group Holding, Ltd. ADRc		146,700		43,126,866
Shenzhou International Group Holdings, Ltd.		2,365,300		40,278,435
XPeng, Inc. ADRc		1,952,000		39,176,640
Burning Rock Biotech, Ltd. ADRc		1,213,909		30,444,838
Baozun, Inc. ADRc		818,500		26,593,065
Shenzhen Inovance Technology Co., Ltd. A Shares		2,817,075		24,179,437
Alphamab Oncologyb,c,d		10,082,000		19,849,427
Jiangsu Hengrui Medicine Co., Ltd. A Shares		1,434,048		19,060,445
AK Medical Holdings, Ltd.b,d		6,938,000		17,855,387
Chindata Group Holdings, Ltd. ADRc		1,094,700		17,766,981
Hansoh Pharmaceutical Group Co., Ltd.b,c,d		3,472,000		16,969,879
Genscript Biotech Corp.c		9,144,000		15,074,350
InnoCare Pharma, Ltd.b,c,d		11,192,000		14,660,566
Peijia Medical, Ltd.b,c,d		4,053,000		14,244,711
KE Holdings, Inc. ADRc		222,467		13,637,227
Silergy Corp.		228,000		13,517,415
Kangji Medical Holdings, Ltd.c		3,989,000		10,040,381
Hangzhou Tigermed Consulting Co., Ltd. H Sharesb,c,d		584,000		8,319,121
Total China/Hong Kong				628,739,811
JAPAN: 33.2%
Nintendo Co., Ltd.		74,900		42,445,175
Sony Corp.		552,500		42,344,724
Terumo Corp.		921,900		36,705,173
SoftBank Group Corp.		552,400		34,179,521
Nidec Corp.		289,200		27,120,581
PeptiDream, Inc.c		555,300		26,059,570
Keyence Corp.		55,500		25,945,101
M3, Inc.		400,400		24,767,249
Takeda Pharmaceutical Co., Ltd.		690,400		24,676,923
Sansan, Inc.c		378,700		24,523,204
Fast Retailing Co., Ltd.		33,600		21,114,962
HEALIOS KKc		1,149,400		20,550,356
Eisai Co., Ltd.		221,500		20,230,110
Nitori Holdings Co., Ltd.		80,900		16,782,857
Rozetta Corp.c		516,600		16,648,122
AI inside, Inc.c		37,900		15,977,002
Sysmex Corp.		153,200		14,658,480
Hikari Tsushin, Inc.		61,100		14,577,779
Japan Elevator Service Holdings Co., Ltd.		402,600		14,042,557
Freee KKc		158,000		11,982,316
Sosei Group Corp.c		550,900		7,218,596
Chugai Pharmaceutical Co., Ltd.		160,600		7,207,003
Total Japan				489,757,361
INDIA: 4.2%
HDFC Bank, Ltd.c		2,837,251		41,650,315
Reliance Industries, Ltd.		655,967		19,894,109
Total India				61,544,424

	Shares		Value
INDONESIA: 3.5%
PT Bank Rakyat Indonesia Persero		205,971,900		$42,256,029
PT Mayora Indah		54,105,900		8,668,007
Total Indonesia				50,924,036
UNITED STATES: 3.4%
Legend Biotech Corp. ADRc		537,538		16,593,798
Schrodinger, Inc.c		279,700		13,288,547
Turning Point Therapeutics, Inc.c		118,000		10,308,480
Frequency Therapeutics, Inc.c		476,465		9,152,893
Total United States				49,343,718
AUSTRALIA: 2.8%
Oil Search, Ltd.		11,936,340		22,831,046
CSL, Ltd.		89,666		18,522,028
Total Australia				41,353,074
BANGLADESH: 1.8%
Square Pharmaceuticals, Ltd.		6,201,634		14,914,628
BRAC Bank, Ltd.		24,353,713		11,685,189
Total Bangladesh				26,599,817
VIETNAM: 1.2%
Vietnam Dairy Products JSC		3,739,910		17,697,279
Total Vietnam				17,697,279
TAIWAN: 1.1%
Taiwan Semiconductor Manufacturing Co., Ltd. ADR		199,100		16,141,037
Total Taiwan				16,141,037
SRI LANKA: 0.6%
Sampath Bank PLC		13,125,953		9,383,812
Total Sri Lanka				9,383,812
SWITZERLAND: 0.5%
ADC Therapeutics SAc		239,500		7,901,105
Total Switzerland				7,901,105
TOTAL INVESTMENTS: 95.0%				1,399,385,474
(Cost $962,755,149)
CASH AND OTHER ASSETS,
LESS LIABILITIES: 5.0%				73,605,656
NET ASSETS: 100.0%				$1,472,991,130

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Matthews Asia Growth Fund	September 30, 2020
Schedule of Investmentsa (unaudited) (continued)

a Certain securities were fair valued under the valuation policies approved by the Board of Trustees.

b Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. The security may be resold in transactions exempt from registration normally to qualified institutional buyers. The security has been determined to be liquid in accordance with procedures adopted by the Funds’ Board of Trustees. At September 30, 2020, the aggregate value is $218,880,531, which is 14.86% of net assets.

c Non-income producing security.

d The securities may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

ADR American Depositary Receipt

JSC Joint Stock Co.

Other information regarding the Fund is available in the Funds’ most recent report to shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

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