Rescuers said that strong winds and heavy rain were hampering rescue efforts, Xinhua news agency reported.
The Eastern Star sank "within one or two minutes" of being caught in a tornado in Jianli, central Hubei Province, on Monday night.
Local river administration officials said that 12 people had been rescued from the water, and another two were rescued from the wreckage.
Divers are combing the ship’s compartments for survivors as a team of 4,000, including police, fire fighters and soldiers from the Chinese Navy, are involved in the rescue mission.
Carrying mostly elderly tourists, the ship left the eastern Chinese city of Nanjing on May 28 with 456 people onboard, including 405 passengers, 46 crew and five tour guides.
The ship's captain and chief engineer, who survived the incident, are in police custody.
