SIMIT, SMIC and SSC established Shanghai Xinchu Integrated Circuit Co., Ltd. jointly. The SIMIT/SMIC/SST cooperation team will participate in the R&D and production of key IC project (the key technology and application of PCRAM engineering). As PCRAM is a huge project participated by several parties and composed of many sub-projects, the management organisation is formally set up for the purpose of improving the team management, promoting the cooperation efficiency and ensuring the completion of the target in conformity with the specified time and quantity. The team has altogether 70 people, including 40 from SIMIT, 22 from MIC and 8 from SST, consisting of the management committee, the labour committee, the technology team and the secretary team. The cooperation team management organization founding ceremony and the first work meeting were held on 15 January 2009 in SIMIT, the main organizer of the IC key project. 

Organised by SIMIT, the meeting was attended by 24 delegates from three parties, including the SIMIT Researcher Song Zhitang, Mr. Xie Zhifeng, VP of SMIC, and Mr. Bomy Chen, VP of SST. SIMIT Researcher Song Zhitang, Director of Labour Committee of the Management Organisation, hosted the meeting.

In the meeting, Mr. Xie Zhifeng, VP of SMIC talked about the target and culture of the team by focusing on achieving close cooperation through mutual respect, mutual trust and mutual communication among three parties. Team members also expressed their ideas and hoped to achieve the best team culture through constant discussion. Afterwards, Researcher Song Zhitang introduced the overall status of the project, and clarified that the task of the team is mainly the establishment of the independent intellectual property rights and the engineering of the technology. He emphasized that the meaning of the management organisation is to improve the team work efficiency and promote the team research quality. Mr. Bomy Chen from SST also introduced the general profile of Shanghai Xinchu IC Co., Ltd. jointly established by three parties, and its short-term and long-term planning, as well raised the targets and requirements to be reached by the team. Researcher Song Zhitang then introduced the organisation structure. The project team is composed of the management committee, the labour committee, the technology team and the secretary team. He also clarified the responsibilities and functions of each project teams. As the director of the labour committee of the management organisation, Researcher Song Zhitang announced the team leader and the deputy team leader of each technology team, and assigned tasks to each technology team.

During the meeting, all attendees expressed their ideas and future scenarios about the team, believing that with such a harmonious and collaborative team, they will definitely complete the key IC projects.

The management organisation of scientific institutes and corporations is an innovative management model, which can better manage the project researchers more systematically and effectively, while fully utilizing the advantages of three parties to promote the close cooperation between institutes and corporations, so as to accelerate the industrial development of PCRAM in China through combining the production, the study and the research together, to develop PCRAM memory product with completely independent intellectual property rights and international competitiveness.