Chinese mainland and Taiwan signed a memorandum on banking supervision and management on Monday.

According to the memorandum, banking regulatory institutions of both sides will cooperate to swap and share information, establish institutions, and deal with emergency, to ensure stable development of the banking sectors both in the mainland and Taiwan.

Liu Mingkang, chairman of the China Banking Regulatory Commission (CBRC), was the representative of the mainland to sign the memorandum.

The CBRC signed memorandum or cooperative contracts with banking regulatory institutions in 36 countries and regions worldwide up until now.