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Matthews China Fund		March 31, 2022

Schedule of Investments^a (unaudited)

COMMON EQUITIES: 99.5%


	Shares		Value

CONSUMER DISCRETIONARY: 27.4%
Internet & Direct Marketing Retail: 22.4%
Alibaba Group Holding, Ltd.^b		6,613,600		$90,253,899
JD.com, Inc. A Shares^b		1,844,613		52,414,483
Meituan B Shares^b,c,d		2,538,600		48,091,089
Pinduoduo, Inc. ADR^b		1,142,500		45,825,675

				236,585,146

Specialty Retail: 3.4%
China Tourism Group Duty Free Corp., Ltd. A Shares		788,590		20,246,395
Zhongsheng Group Holdings, Ltd.		2,306,500		16,217,540

				36,463,935

Household Durables: 1.6%
Midea Group Co., Ltd. A Shares		1,875,052		16,692,643

Total Consumer Discretionary				289,741,724


INFORMATION TECHNOLOGY: 16.9%
Semiconductors & Semiconductor Equipment: 9.6%
LONGi Green Energy Technology Co., Ltd. A Shares		1,377,609		15,502,489
Beijing Huafeng Test & Control Technology Co., Ltd. A Shares		215,959		15,289,502
Gigadevice Semiconductor Beijing, Inc. A Shares		635,180		13,983,885
Hangzhou Silan Microelectronics Co., Ltd. A Shares		1,841,109		13,925,252
Zhejiang Jingsheng Mechanical & Electrical Co., Ltd. A Shares		1,406,589		13,173,330
Will Semiconductor Co., Ltd. Shanghai A Shares		341,319		10,292,183
All Winner Technology Co., Ltd. A Shares		1,174,132		9,877,146
Cambricon Technologies Corp., Ltd. A Shares^b		508,825		5,082,568
NAURA Technology Group Co., Ltd. A Shares		109,541		4,671,082

				101,797,437

Software: 5.3%
Shanghai Baosight Software Co., Ltd. A Shares		2,611,096		19,935,568
Thunder Software Technology Co., Ltd. A Shares		1,051,366		16,269,546
Beijing Kingsoft Office Software, Inc. A Shares		343,879		10,100,113
Kingdee International Software Group Co., Ltd.^b		2,204,000		4,828,801
Sangfor Technologies, Inc. A Shares		256,149		4,479,840

				55,613,868

Electronic Equipment, Instruments & Components: 2.0%
Wingtech Technology Co., Ltd. A Shares		868,906		11,031,112
Xiamen Faratronic Co., Ltd. A Shares		338,009		10,635,520

				21,666,632

Total Information Technology				179,077,937


	Shares		Value

FINANCIALS: 14.9%
Capital Markets: 9.8%
China International Capital Corp., Ltd. H Shares^c,d		17,366,400		$38,392,186
CITIC Securities Co., Ltd. H Shares		15,212,925		34,869,580
China Merchants Securities Co., Ltd. H Shares^c,d		17,230,000		20,164,936
Hong Kong Exchanges & Clearing, Ltd.		225,900		10,588,684

				104,015,386

Banks: 5.1%
China Merchants Bank Co., Ltd. A Shares		7,317,523		53,574,501

Total Financials				157,589,887


INDUSTRIALS: 12.0%
Machinery: 7.0%
Shenzhen Inovance Technology Co., Ltd. A Shares		2,534,207		22,584,675
Wuxi Lead Intelligent Equipment Co., Ltd. A Shares		2,000,516		18,237,921
Estun Automation Co., Ltd. A Shares		4,895,425		15,376,360
Weichai Power Co., Ltd. A Shares		4,602,861		9,612,767
Jiangsu Hengli Hydraulic Co., Ltd. A Shares		1,050,400		8,560,943

				74,372,666

Electrical Equipment: 3.8%
Sungrow Power Supply Co., Ltd. A Shares		941,874		15,767,643
NARI Technology Co., Ltd. A Shares		2,184,564		10,744,915
Gotion High-tech Co., Ltd. A Shares^b		1,456,583		7,809,124
Contemporary Amperex Technology Co., Ltd. A Shares		77,000		6,149,962

				40,471,644

Transportation Infrastructure: 1.2%
Shanghai International Airport Co., Ltd. A Shares^b		1,558,351		11,996,295

Total Industrials				126,840,605


COMMUNICATION SERVICES: 8.8%
Interactive Media & Services: 7.4%
Tencent Holdings, Ltd.		1,685,500		77,692,016

Entertainment: 1.4%
Bilibili, Inc. ADR^b		588,200		15,046,156

Total Communication Services				92,738,172


HEALTH CARE: 6.6%
Life Sciences Tools & Services: 2.3%
Hangzhou Tigermed Consulting Co., Ltd. A Shares		665,331		11,199,039
Pharmaron Beijing Co., Ltd. H Shares^c,d		852,200		10,248,883
Wuxi Biologics Cayman, Inc.^b,c,d		408,500		3,243,736

				24,691,658

Health Care Equipment & Supplies: 2.1%
Shenzhen Mindray Bio-Medical Electronics Co., Ltd. A Shares		237,173		11,437,752
Shenzhen New Industries Biomedical Engineering Co., Ltd. A Shares		2,065,357		11,029,438

				22,467,190


Matthews China Fund		March 31, 2022

Schedule of Investments^a (unaudited) (continued)

COMMON EQUITIES (continued)


	Shares		Value
Pharmaceuticals: 1.7%
Jiangsu Hengrui Medicine Co., Ltd. A Shares		3,038,333		$17,533,247

Health Care Providers & Services: 0.5%
Topchoice Medical Corp. A Shares^b		215,491		4,825,740

Total Health Care				69,517,835


MATERIALS: 5.1%
Chemicals: 4.1%
Shanghai Putailai New Energy Technology Co., Ltd. A Shares		927,593		20,336,372
Shandong Sinocera Functional Material Co., Ltd. A Shares		2,119,924		11,478,940
Wanhua Chemical Group Co., Ltd. A Shares		470,818		5,957,248
Skshu Paint Co., Ltd. A Shares		361,126		5,021,660

				42,794,220

Construction Materials: 1.0%
China Jushi Co., Ltd. A Shares		4,509,189		10,753,742

Total Materials				53,547,962


REAL ESTATE: 4.5%
Real Estate Management & Development: 4.5%
CIFI Holdings Group Co., Ltd.		31,934,000		18,610,221
Times China Holdings, Ltd.		34,008,000		11,249,249
KE Holdings, Inc. ADR^b		711,100		8,796,307
KWG Living Group Holdings, Ltd.^d		23,653,000		8,719,101

Total Real Estate				47,374,878


CONSUMER STAPLES: 3.3%
Beverages: 2.3%
Wuliangye Yibin Co., Ltd. A Shares		779,619		18,892,114
Shanxi Xinghuacun Fen Wine Factory Co., Ltd. A Shares		127,922		5,104,617

				23,996,731


	Shares		Value
Food Products: 1.0%
Anjoy Foods Group Co., Ltd. A Shares		641,923		$11,097,060

Total Consumer Staples				35,093,791


TOTAL INVESTMENTS: 99.5%				1,051,522,791
(Cost $1,296,585,397)

CASH AND OTHER ASSETS, LESS LIABILITIES: 0.5%				5,794,426

NET ASSETS: 100.0%				$1,057,317,217


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

b		Non-income producing security.

c		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 March 31, 2022, the aggregate value is $120,140,830, which is 11.36% of net assets.

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

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).