Hong Kong Monetary Authority Releases Quantum Readiness White Paper and Index

The Hong Kong Monetary Authority (HKMA) released the "Hong Kong Banking Sector Quantum Readiness White Paper" on July 27 and announced the Quantum Readiness Index. The index scored 2.3 out of 10, indicating that the deployment of quantum computing in the banking sector is still in its early stages. The survey revealed that approximately 68% of the banks surveyed have some awareness or have entered the planning and trial phases, while 32% have not yet initiated any transition work. About half of the banks have not formally developed plans for post-quantum cryptography (PQC). Approximately half of the bank boards have discussed the application of quantum computing, and about one-third of banks have begun exploring or trialing applications related to quantum technology. The HKMA will introduce PQC tools, hold workshops, and implement other support measures, aiming to assist the banking sector in being fully prepared for the quantum era by 2030.

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