Hong Kong Banks Fall Short in Quantum Preparedness

Hong Kong's banking sector scored just 2.3 out of 10 on its first Quantum Preparedness Index (QPI), launched by the Hong Kong Monetary Authority (HKMA) in July. The regulator aims for a perfect 10-out-of-10 readiness score by 2030.

The QPI survey found that 68% of banks have started some form of preparation, while 32% haven't taken any steps at all to prepare for quantum computing-related cyber risks. Roughly half of surveyed banks say they have no formal roadmap for adopting post-quantum cryptography (PQC), even though a similar share say the topic has already reached the boardroom.

The HKMA is partnering with the Hong Kong University of Science and Technology's School of Business and Management to build a PQC toolkit and run training workshops for banks. This initiative aims to help close the gap between the leaders and those who haven't started preparing.