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SIGNATURE PAUL SCHUBERT
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
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<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 133,245,933
<INVESTMENTS-AT-VALUE> 144,926,545
<RECEIVABLES> 114,763
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<SENIOR-EQUITY> 12,593
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</TABLE>
Report of Independent Accountants
To the Shareholders and Board of Directors of
The Greater China Fund, Inc.
In planning and performing our audit of the financial
statements of The Greater China Fund, Inc. (the "Fund")
for the year ended December 31, 1999, we considered its
internal control, including control activities for
safeguarding securities, in order to determine our
auditing procedures for the purpose of expressing
our opinion on the financial statements and to comply
with the requirements of Form N- SAR, not to provide
assurance on internal control.
The management of the Fund is responsible for
establishing and maintaining internal control.
In fulfilling this responsibility, estimates and
judgments by management are required to assess the
expected benefits and related costs of controls.
Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing
financial statements for external purposes that
are fairly presented in conformity with generally
accepted accounting principles. Those controls
include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal
control, errors or fraud may occur and not be
detected. Also, projection of any evaluation
of internal control to future periods is
subject to the risk that controls may become
inadequate because of changes in conditions
or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would
not necessarily disclose all matters in
internal control that might be material
weaknesses under standards established
by the American Institute of Certified
Public Accountants. A material weakness
is a condition in which the design or
operation of one or more of the internal
control components does not reduce to a
relatively low level the risk that misstatements
caused by error or fraud in amounts that would
be material in relation to the financial
statements being audited may occur and not
be detected within a timely period by employees
in the normal course of performing their assigned
functions. However, we noted no matters involving
internal control and its operation, including
controls for safeguarding securities, that we
consider to be material weaknesses as defined
above as of December 31, 1999.
This report is intended solely for the information
and use of the Board of Directors, management and
the Securities and Exchange Commission and is not
intended to be and should not be used by anyone
other than these specified parties.
PricewaterhouseCoopers LLP
February 14, 2000
