HKMA Unveils Quantum Preparedness Index to Bolster Hong Kong Banks' Cybersecurity

The Hong Kong Monetary Authority (HKMA) has launched a Quantum Preparedness Index (QPI) and a comprehensive whitepaper to guide Hong Kong banks in post-quantum cryptography readiness by 2030.

The QPI evaluates banks across four dimensions, Awareness, Planning, Pilots, and Practical Preparedness, and assigns a readiness score. The initial score is 2.3 out of 10, indicating that the sector is in the early stages of preparation.

The HKMA's initiative aims to provide a structured roadmap for banks to adapt to the transition to post-quantum cryptography (PQC). Quantum computing poses a long-term risk to conventional encryption methods, and fault-tolerant quantum systems could eventually break widely used cryptographic standards.