Hong Kong Monetary Authority launches quantum preparedness whitepaper and index, banks score 2.3 out of 10

The Hong Kong Monetary Authority has published a whitepaper on quantum preparedness in Hong Kong’s banking sector, released the first Quantum Preparedness Index and outlined support measures for banks. The main finding is that the sector is still at an early stage of readiness for quantum-related cyber risks, with an initial QPI score of 2.3 out of 10, indicating that most firms are still building basic awareness, planning and technical foundations for the transition to post-quantum cryptography. The whitepaper draws on a survey conducted in early 2026 and frames preparedness across four dimensions: awareness, planning, pilots and practical preparedness. It shows that 68% of surveyed banks have at least reached the awareness, planning or piloting stages, while 32% have not yet started their transition journey. Preparedness remains uneven, with around half of surveyed banks having no formal post-quantum planning in place. Around half reported that quantum computing had been discussed at board level, and about one-third said they had started exploring or piloting quantum-related initiatives. During the transition to post-quantum cryptography, banks are expected to continue strengthening cyber resilience, technology maturity and innovation capabilities. To support the sector’s transition, the HKMA said it aims to achieve full sectoral readiness, defined as a QPI score of 10, by 2030 through guidance, training and industry engagement. Planned measures include a post-quantum cryptography toolkit to be co-developed with the School of Business and Management of The Hong Kong University of Science and Technology and industry participants, as well as a series of workshops on post-quantum cryptography preparedness and potential future uses of quantum technologies.