Retinopathy is the primary cause of irreversible yet preventable blindness. Numerous deep-learning algorithms have been developed for automatic retinal fundus image analysis. However, existing methods are usually data-driven, which rarely consider the costs associated with fundus image collection and annotation, along with the class-imbalanced distribution that arises from the relative scarcity of disease-positive individuals in the population. Semi-supervised learning on class-imbalanced data, despite a realistic problem, has been relatively little studied. To fill the existing research gap, we explore generative adversarial networks (GANs) as a potential answer to that problem. Specifically, we present a novel framework, named CISSL-GANs, for class-imbalanced semi-supervised learning (CISSL) by leveraging a dynamic class-rebalancing (DCR) sampler, which exploits the property that the classifier trained on class-imbalanced data produces high-precision pseudo-labels on minority classes to leverage the bias inherent in pseudo-labels. Also, given the well-known difficulty of training GANs on complex data, we investigate three practical techniques to improve the training dynamics without altering the global equilibrium. Experimental results demonstrate that our CISSL-GANs are capable of simultaneously improving fundus image class-conditional generation and classification performance under a typical label insufficient and imbalanced scenario. Our code is available at: https://github.com/Xyporz/CISSL-GANs.