Hong Kong’s banking sector remains in the early stages of preparing for cybersecurity risks from quantum computing, the city’s de facto central bank said on Monday.
The Hong Kong Monetary Authority released the Quantum Preparedness Index based on a survey conducted earlier this year. The banking sector scored 2.3 out of 10. The index assessed banks across four categories: awareness, planning, pilot projects and operational readiness. The HKMA aims for the sector to reach full readiness, or a score of 10, by 2030.
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 post-quantum cryptography.
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.
