HKMA Targets 2030 for Full Quantum Readiness Across Hong Kong Banks

Initial QPI Score

2.3

The initial score of the Quantum Preparedness Index indicating early-stage preparation.

Banks in Awareness/Planning

68%

Percentage of banks that are aware of or are moving towards transitioning to post-quantum cryptography.

Banks without Formal Planning

50%

Percentage of surveyed banks that currently have no formal post-quantum planning in place.

§ 01 Executive Snapshot

What: The HKMA has launched the Quantum Preparedness Index (QPI) to assess the banking sector's readiness for post-quantum cryptography.
Who: Hong Kong Monetary Authority (HKMA) and banks across Hong Kong.
Why it matters: The index highlights the urgent need for banks to prepare for quantum computing-related cyber risks, with a target of full readiness by 2030.

The QPI introduced by the HKMA received an initial score of 2.3 out of 10, indicating early-stage preparation for quantum readiness.
A survey conducted in early 2026 revealed that 68% of banks are aware of or moving towards planning and piloting quantum initiatives, while 32% have not started the transition.
Approximately 50% of surveyed banks currently lack any formal post-quantum planning.

The launch of the QPI aligns with the HKMA's Fintech Promotion Blueprint, aimed at enhancing the banking sector's technological readiness and resilience in the face of emerging risks.
As quantum computing technology evolves, the banking sector must adapt to maintain cybersecurity and operational integrity, making this initiative crucial for future-proofing the financial system.

Immediate consequences include the need for banks to bolster their technology maturity and cyber resilience as they transition to PQC.
Long-term implications involve the establishment of a robust framework for adopting quantum technologies, enhancing competitive advantage in a rapidly evolving technological landscape.

Potential risks include the slow uptake of quantum initiatives among banks, which could leave them vulnerable to cyber threats.
Competition from global financial centers that may advance their quantum readiness faster could pose a challenge to Hong Kong's banking sector.

The HKMA aims to achieve a full QPI score of 10 by 2030, marking a significant milestone in the sector's transition to PQC.
Upcoming workshops and the development of a PQC toolkit will be critical indicators of the sector's progress and capability-building efforts in quantum technology integration.

§ 07

What is the Quantum Preparedness Index (QPI)?

The QPI is a tool launched by the HKMA to assess the banking sector's readiness for post-quantum cryptography.

Why is the HKMA targeting 2030 for full quantum readiness?

The target of full readiness by 2030 is crucial for banks to prepare for quantum computing-related cyber risks.

How did banks score on the initial QPI assessment?

The initial score for the QPI was 2.3 out of 10, indicating that banks are in the early stages of preparation for quantum readiness.

Who conducted the survey regarding banks' quantum initiatives?

The survey was conducted by the HKMA, revealing that 68% of banks are aware of or planning quantum initiatives.