The Hong Kong University of Science and Technology, or HKUST, and the Hong Kong Monetary Authority (HKMA) introduced a toolkit after Hong Kong's banking sector scored 2.3 out of 10 on quantum preparedness.
The score comes from the HKMA’s Quantum Preparedness Index (QPI), introduced in July and based on a survey conducted early in 2026. The index covers banks’ awareness, planning, pilot projects and practical readiness. Around half of surveyed banks had no formal post-quantum plan, while 32% had not begun transition work, the HKMA said. Its July release also said about 68% of banks had shown awareness or moved into planning or pilot stages.
The HKMA cautioned that advances in quantum computing could eventually undermine encryption used to secure customer information and transactions. Frederik Anseel, dean of HKUST Business School, said the timing of the threat remains uncertain and called preparation “a leadership challenge.”
The Post-Quantum Cryptography (PQC) Toolkit is intended to help banks plan a transition after mapping their cryptographic assets and dependencies. It provides a framework for assessing exposure and identifying transition needs, then setting migration priorities. The guidance also covers governance and accountability, supplier engagement, timelines and progress monitoring. Industry participants supported the launch. The HKMA said it will update the materials as technology changes, international standards develop and industry implementation experience grows.
HKMA Deputy Chief Executive Arthur Yuen said the index “has established a clear starting point for the sector.” The authority aims for a QPI score of 10 by 2030, which it defines as full sector readiness. The launch announcement did not name algorithms for banks to adopt or set bank-by-bank deadlines.
