In order to support the improvement of China's reliability standards and the supervision of the implementation process, it is necessary to establish a sound reliability evaluation index. Firstly, this paper summarizes the reliability standard system of North American power system and the selection criteria for the Standards Driven Index (SDI). Subsequently, the purpose of the establishment of SDI indicators, development process, performance indicators and data sources are analyzed. After that, the application of risk indicators CP-1 and impact indicators CP-2 and suggestions for improvement are specifically analyzed with the case study. Finally, in view of the current situation of the reliability standard and risk management system in China, it is pointed out that China still needs improvement in terms of reliability standard system, event analysis and data management. It is recommended to improve and expand the field of reliability indicators, strengthen incident tracking analysis, and establish a unified database to reduce power system risks. This work is supported by National Key Research and Development Program of China (No. 2017YFB0903100) and Science and Technology Program of State Grid Corporation of China (No. 521104170043 and No. SGTYHT/16-JS-198).