Hong Kong Monetary Authority Releases Quantum Readiness White Paper and Index to Help Banking Sector Embrace the Quantum Era

Hong Kong Monetary Authority released the "Hong Kong Banking Sector Quantum Readiness White Paper" on July 27 at the 8th FiNETech1, and for the first time announced the Quantum Readiness Index and related industry support measures. The Quantum Readiness Index shows that the deployment of quantum computing in the banking industry is in its initial stages, with a score of 2.3 out of 10. The survey shows that about 68% of surveyed banks have relevant awareness or have entered the planning and trial stages, but 32% have not yet started transition work, and about half of the banks have not yet formally formulated a post-quantum cryptography (PQC) plan. About half of the banks' boards of directors have discussed the application of quantum computing, and about one-third of the banks have begun to explore or trial applications related to quantum technology. The Monetary Authority will launch support measures such as PQC tools and workshops, aiming to assist the banking industry in fully preparing for the quantum era by 2030.