Hong Kong Monetary Authority rates banks low in new quantum readiness index

The Hong Kong Monetary Authority (HKMA) released a Quantum Preparedness Index (QPI) on 27 July, assigning the local banking sector an overall score of 2.3 out of 10. The index assesses four dimensions – awareness, planning, pilots and operational readiness – all of which scored well below mid‑range, with pilot projects receiving the lowest rating at 1.8.

The HKMA’s survey found that 68 % of banks are aware of quantum risks or are in the planning or pilot stage, while 32 % have not yet begun concrete transition work. The authority aims for the industry to reach a full score of 10 by 2030. To support this goal, HKMA is working with the Hong Kong University of Science and Technology to develop a post‑quantum cryptography (PQC) toolkit, and plans to issue practical guidance, skill‑training workshops and industry‑wide exchanges to help banks prioritize their migration to quantum‑resistant encryption.