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HKMA's Quantum Index Rates Banks 2.3/10, Highlights Low Readiness

7/28/2026

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Summary

Story summary

Hong Kong Monetary Authority (HKMA) launched its first Quantum Preparedness Index, scoring the banking sector 2.3 out of 10 on July 27, 2026.
Executive Director Chu Lap-Chiu presented the Quantum Preparedness Whitepaper for Hong Kong banks.
The index covers four dimensions; a 2026 survey found 68% of banks have some awareness, planning or pilot activity, while 32% have taken none and half lack a formal post-quantum cryptography roadmap.

History

Historical Context

After the 1977 Data Encryption Standard proved insecure due to its 56-bit key, NIST launched an open competition in 1997 that evaluated fifteen candidates. Belgian cryptographers Joan Daemen and Vincent Rijmen’s Rijndael won, and NIST ratified the Advanced Encryption Standard in November 2001. That legacy of transparent replacement underpins today’s Hong Kong Monetary Authority quantum-preparedness push.

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Story summary

Hong Kong Monetary Authority (HKMA) launched its first Quantum Preparedness Index, scoring the banking sector 2.3 out of 10 on July 27, 2026.
Executive Director Chu Lap-Chiu presented the Quantum Preparedness Whitepaper for Hong Kong banks.
The index covers four dimensions; a 2026 survey found 68% of banks have some awareness, planning or pilot activity, while 32% have taken none and half lack a formal post-quantum cryptography roadmap.

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