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Matthews Asia ESG Fund			September 30, 2020

Schedule of Investments^a(unaudited)


COMMON EQUITIES: 90.0%
	Shares		Value

CHINA/HONG KONG: 32.9%
Hong Kong Exchanges & Clearing, Ltd.		69,000		$3,248,071
China Conch Venture Holdings, Ltd.		459,500		2,137,637
Wuxi Biologics Cayman, Inc.^b,c,d		78,500		1,923,883
CSPC Pharmaceutical Group, Ltd.		945,600		1,845,857
Meituan Dianping Class B^c,d		54,400		1,713,671
Hangzhou Tigermed Consulting Co., Ltd. A Shares		108,676		1,656,032
Yonghui Superstores Co., Ltd. A Shares		1,134,195		1,313,074
Xinyi Glass Holdings, Ltd.		570,000		1,152,783
Tencent Music Entertainment Group ADR^c		78,000		1,152,060
Innovent Biologics, Inc.^b,c,d		145,500		1,085,022
New Oriental Education & Technology Group, Inc. ADR^c		7,000		1,046,500
ASM Pacific Technology, Ltd.		87,000		890,632
Chindata Group Holdings, Ltd. ADR^c		48,400		785,532
Contemporary Amperex Technology Co., Ltd. A Shares		22,200		689,890
HKBN, Ltd.		245,000		467,550
Hangzhou Tigermed Consulting Co., Ltd. H Shares^b,c,d		13,400		190,884
Ming Yuan Cloud Group Holdings, Ltd.^c		18,000		67,355
Total China/Hong Kong				21,366,433


INDIA: 20.9%
Shriram City Union Finance, Ltd.		174,869		2,250,206
Bandhan Bank, Ltd.^b,c,d		578,370		2,159,522
Mahindra & Mahindra, Ltd.		251,131		2,076,277
Phoenix Mills, Ltd.		221,118		1,752,468
IndusInd Bank, Ltd.^c		217,963		1,565,047
Minda Industries, Ltd.		228,156		1,023,244
Marico, Ltd.		191,275		942,158
NBCC India, Ltd.		2,444,470		787,245
Lemon Tree Hotels, Ltd.^b,c,d		1,418,679		536,999
TTK Prestige, Ltd.		4,633		384,516
Lupin, Ltd.		7,284		99,591
Total India				13,577,273


TAIWAN: 13.9%
Taiwan Semiconductor Manufacturing Co., Ltd. ADR		23,700		1,921,359
Zhen Ding Technology Holding, Ltd.		384,000		1,685,516
Sporton International, Inc.		145,903		1,231,065
M31 Technology Corp.		96,000		1,023,572
Poya International Co., Ltd.		47,000		898,960
Merida Industry Co., Ltd.		88,000		713,229
Andes Technology Corp.		114,000		594,767
ASMedia Technology, Inc.		10,000		507,024
Sunonwealth Electric Machine Industry Co., Ltd.		157,000		339,025
Taiwan Semiconductor Manufacturing Co., Ltd.		9,000		135,397
Total Taiwan				9,049,914


JAPAN: 6.8%
Unicharm Corp.		30,700		1,373,006
Nidec Corp.		9,700		909,646
UT Group Co., Ltd.^c		25,200		860,530
Tsukui Holdings Corp.		105,300		591,387
Koa Corp.		36,800		397,944



	Shares		Value
Sosei Group Corp.^c		21,300		$279,100
Total Japan				4,411,613


BANGLADESH: 4.5%
BRAC Bank, Ltd.		3,521,927		1,689,860
GrameenPhone, Ltd.		319,501		1,242,975
Total Bangladesh				2,932,835


UNITED STATES: 3.4%
Legend Biotech Corp. ADR^c		48,488		1,496,825
Micron Technology, Inc.^c		15,900		746,664
Total United States				2,243,489


SINGAPORE: 1.9%
Keppel DC, REIT		286,700		612,802
SATS, Ltd.		289,500		604,595
Total Singapore				1,217,397


THAILAND: 1.6%
Total Access Communication Public Co., Ltd.
NVDR		1,009,100		1,031,656
Total Thailand				1,031,656


INDONESIA: 1.6%
PT Jaya Real Property		21,603,300		598,752
PT Bank Rakyat Indonesia Persero		2,056,100		421,818
Total Indonesia				1,020,570


PHILIPPINES: 1.5%
Puregold Price Club, Inc.		933,420		945,980
Total Philippines				945,980


VIETNAM: 0.9%
Nam Long Investment Corp.		506,869		565,309
Total Vietnam				565,309


PAKISTAN: 0.1%
Abbott Laboratories Pakistan, Ltd.		9,450		43,709
Total Pakistan				43,709


TOTAL COMMON EQUITIES				58,406,178
(Cost $51,932,897)

PREFERRED EQUITIES: 10.1%

SOUTH KOREA: 10.1%
LG Chem, Ltd., Pfd.		14,195		3,876,390
Samsung SDI Co., Ltd., Pfd.		12,544		2,690,208
Total South Korea				6,566,598


TOTAL PREFERRED EQUITIES				6,566,598
(Cost $4,145,691)


Matthews Asia ESG Fund			September 30, 2020

Schedule of Investments^a(unaudited) (continued)


PREFERRED EQUITIES (continued)
	Value

TOTAL INVESTMENTS: 100.1%		$64,972,776
(Cost $56,078,588)

LIABILITIES IN EXCESS OF CASH
AND OTHER ASSETS: (0.1%)		(47,905	)

NET ASSETS: 100.0%		$64,924,871

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

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 $5,896,310, which is 9.08% 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

NVDR	Non-voting Depositary Receipt

Pfd.

Preferred

REIT	Real Estate Investment Trust

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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