Chinese Academy of Sciences (CAS) was established in 1950 by merging of the National Research Institute of Physics, Academia Sinica (established in 1928) and the Institute of Physics, National Academy of Peiping. Soon after the founding of the People's Republic of China it was known as the Institute of Applied Physics, Chinese Academy of Sciences, then in October 1958 the present name was adopted. The Institute is a multidisciplinary institution engaged in research on basic and applied physics, concentrating mainly on condensed matter physics, optical physics, atomic and molecular physics, plasma physics and theoretical physics. There are three State Key Laboratories: Laboratory of Surface Physics, Magnetism, and Super- conductivity. The R&D Department undertakes the development and application of research achievements and high technology. The Center for Condensed Matter Physics, CAS was set up in July 1996, based on the three State Key Laboratories, three Open Laboratories of the Academy (Optical Physics, Beijing Laboratory of Electron Microscopy and Beijing Laboratory of Vacuum Physics), and certain other research groups in the Institute. IOP is the leading research institution in condensed matter physics in China and now is making new strides towards restructuring in an effort to become a major physics research center of international standing.