In order to facilitate the exchange of experience and information between the Central Deposit Insurance Corporation (CDIC) and the Hong Kong Deposit Protection Board (HKDPB), a Memorandum of Understanding (MOU) has been signed on August 19th 2014 in Hong Kong by the CDIC's President Mr. Michael M. K. Lin and the HKDPB's C.E.O. Ms. Meena Datwani indicating the symbolizing the official bilateral cooperation. Being a legal entity established in accordance with the Deposit Protection Scheme Ordinance to be responsible for the operation of Hong Kong's deposit insurance system, the HKDPB was set up in July 2004 and starting to implement the deposit insurance mechanism on September 25th 2006. The objective behind the establishment is to develop an effective deposit insurance mechanism conforming to Deposit Protection Scheme Ordinance as well as the international best practice to help maintaining the stability of the banking system and strengthening the protection of the depositors. Having encountered with the various trends, liberalization, diversification, and globalization, regarding the financial development in recent years, the occurance of chain reactions caused by the financial problems already became an issue for every country to take into consideration. Since cross-border financial problems have emerged as the focus for financial safety net players worldwide, financial supervisors in many countries have been striving for the reinforcement of international cooperation to maintain the stability of global finance. In light of the situation that both the CDIC and the HKDPB are members of the International Association of Deposit Insurers (IADI) and some of their insured institutions even have branches set up in both places, the signing of an official MOU conforms to the BCBS-IADI Core Principles for Effective Deposit Insurance Systems illustrating specifically the sharing of information on a cross-border basis. In the future the CDIC will continue to cope with the HKDPB on strengthening the sharing of information and professional experience to further help both parties with the protection of the depositors' rights and interests and the policy function of a stablized financial order.