This study proposed the theoretical model of knowledge transfer, knowledge assimilation, knowledge sharing and knowledge creation. Taking the Phosphorus Chemical Industry Chain in the middle of Gui Zhou as an example, it was justified that knowledge transfer between factories in RIC has positive effect to knowledge creation, knowledge assimilation between factories in RIC has positive effect to knowledge creation, knowledge sharing between factories in RIC has positive effect to knowledge creation. The theoretical model and its empirical research provides theoretical frame and practical experience for understanding and advancing knowledge creation of RIC.