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China Medicine Enhances Management Team with Appointments of New Chief Financial Officer and Finance Manager
Date:8/31/2009

GUANGZHOU, China, Aug. 31 /PRNewswire-Asia/ -- China Medicine Corporation (OTC Bulletin Board: CHME) ("China Medicine" or "the Company"), a developer and leading distributor of prescription and over the counter pharmaceuticals, traditional Chinese medicines (TCM), nutritional and dietary supplements, and medical devices and medical formulations, today announced the appointment of Richard P. Wu as its new Chief Financial Officer, effective August 25, 2009. Mr. Wu replaces Ms. Huizhen Yu, who had served as Chief Financial Officer of China Medicine since February 2006. Ms. Yu now serves as Controller of the Company and its subsidiaries, including our wholly-owned operating subsidiary, Guangzhou Konzern Medicine Co., Ltd. In addition, the Company also appointed Mr. Robert Lu to a newly created position of Finance Manager, which involves cash planning, internal and external reporting, tax planning and capital budgeting.

Richard P. Wu has over 14 years of experience in accounting and finance both in China and the U.S. including financial reporting, disclosure and regulatory compliance, financial planning, taxation, and debt and equity financing. Mr. Wu also has a strong legal background as a practicing lawyer in China from 1987 to 1992. Prior to joining China Medicine, Mr. Wu was Chief Financial Officer and Executive Vice President of China Natural Gas, Inc., a NASDAQ Global-listed company, from 2008 to 2009. From January 2004 to May 2007 he was Chief Financial Officer and Corporate Senior Vice President of The AlliancePharm U.S. LLC's China operations, where he had full finance and accounting responsibility for the sourcing and contract manufacturing business for active pharmaceutical ingredients and managed a finance and accounting team of over 100 people. From December 1999 to December 2003 he was Chief Financial Officer and Corporate EVP of MeetChina.com Inc.'s China business, an online cross-border ecommerce portal in
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