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Hong Kong banks in early stages of preparing for quantum computing threats, HKMA says

Hong Kong’s banking sector is still in the early stages of preparing for cybersecurity risks posed by quantum computing, the city’s de facto central bank…

By Samantha Johnson / July 27, 2026

Hong Kong’s banking sector is still in the early stages of preparing for cybersecurity risks posed by quantum computing, the city’s de facto central bank said on Monday as it unveiled a new benchmark to track the industry’s readiness.

The Hong Kong Monetary Authority (HKMA) launched its first Quantum Preparedness Index (QPI), which gave the sector a score of 2.3 out of 10, indicating that most banks are still building the foundations for a transition to the quantum era.

The index, based on a survey conducted earlier this year, assessed banks according to four categories: awareness, planning, pilot projects and operational readiness. The HKMA said it aimed for the sector to achieve full readiness, or a score of 10, by 2030.

Quantum computers are expected to eventually be powerful enough to break many of today’s widely used encryption standards, prompting regulators and financial institutions worldwide to prepare for a shift to post-quantum cryptography (PQC) – encryption designed to resist quantum attacks.

The survey found that 68 per cent of banks had begun preparations by raising awareness, developing plans or launching pilot projects, while 32 per cent had yet to take any steps. About half of the banks surveyed also said they had no formal road map for adopting PQC.

Even so, momentum is building. Around half of respondents said quantum computing had been discussed at the board level, while about a third had started exploring or testing quantum-related applications.

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