On Mon, 27 Jul, the HKMA launched a Whitepaper and Quantum Preparedness Index to support banking sector readiness for the quantum era.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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On Mon, 27 Jul, the Hong Kong Monetary Authority ("HKMA") announced the launch of the Whitepaper on Quantum Preparedness of Hong Kong’s Banking Sector and the inaugural Quantum Preparedness Index ("QPI") at the eighth edition of the FiNETech series (FiNETech8).
Quantum Preparedness Index Framework
Developed under the HKMA’s Fintech Promotion Blueprint, the QPI assesses banks across Awareness, Planning, Pilots, and Practical Preparedness to support early preparation for quantum-related cyber risks. The initial score of 2.3 out of 10 reflects an early stage of preparedness, with banks currently laying the foundation for the quantum era during the transition to Post-Quantum Cryptography ("PQC"), while continuously enhancing cyber resilience, tech maturity and innovation capabilities.
Sector Readiness and Survey Findings
A survey conducted in early 2026 indicates 68% of banks are aware or in planning/piloting stages, while 32% have not started. Approximately half lack formal PQC planning, though around half have discussed quantum computing at board level, and one-third have begun exploring quantum-related initiatives, albeit practical implementation remains limited.
Strategic Objectives and Support Measures
The HKMA will continue to support the banking sector’s PQC transition, aiming for full sectoral readiness (QPI score of 10) by 2030. Measures include a PQC toolkit co-developed with The Hong Kong University of Science and Technology to enhance cryptographic agility, and workshops to build capability and explore responsible quantum technology use.
Event Details and References
FiNETech8 convened over 300 practitioners from financial services and technology industries. The event was co-hosted by the HKMA, Hong Kong Cyberport Management Company Limited, the Fintech Association of Hong Kong, and HKUST. Ms Carmen Chu, Executive Director (Banking Supervision), delivers opening remarks. The full Whitepaper is available on the HKMA website, referencing the Fintech Promotion Blueprint, HKMA (2026).
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