WP-UTF8-Excerpt

Main features of the plugin:

1. It supports multi-byte language (such as Chinese). It will not produce gibberish as some other excerpt plugins do.
2. The html tags in the original posts, i.e., the font styles, colors, hyperlinks, pictures and such are preserved in the excerpt.
3. For better readability, it displays 300 characters for each post on the homepage and 150 characters for each post on archive pages.