HKMA launches quantum preparedness whitepaper and index to support banking sector's readiness for quantum era
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (July 27) the launch of the Whitepaper on Quantum Preparedness of Hong Kong's Banking Sector, together with the first Quantum Preparedness Index (QPI) and relevant support measures for the industry, at the eighth edition of the FiNETech series (FiNETech8)[Note 1]. The Whitepaper and the QPI were developed under the HKMA's Fintech Promotion Blueprint[Note 2], with the aim of enhancing the banking sector's understanding of the implications of quantum computing and supporting early preparation for quantum-related cyber risks.
The Whitepaper covers a survey conducted in early 2026, which suggests that awareness of quantum-related developments is building across the sector. Based on the survey findings, the HKMA released the first QPI. As a forward-looking benchmark, the QPI is assessed across four key dimensions: Awareness, Planning, Pilots and Practical Preparedness.
The initial QPI score is 2.3 on a 10-point scale, reflecting the sector is at an early stage of preparedness, and currently focused on laying the foundation for the quantum era. During the transition to Post-Quantum Cryptography (PQC), banks should also continuously enhance their cyber resilience, tech maturity and innovation capabilities.
Regarding the current state of play, around 68 per cent of the banks surveyed demonstrate awareness or are progressing to planning or piloting stages, while 32 per cent have not yet embarked upon their transition journey. Furthermore, preparedness for the transition to PQC remains uneven, with around half of the banks surveyed having no formal post-quantum planning in place.
The survey also indicates that, while quantum computing is still in its initial phase, some banks have started to engage with both the opportunities and implications of quantum technologies, albeit practical implementation remains limited. Around half of surveyed banks reported that quantum computing had been discussed at board level. In addition, about one-third of all surveyed banks indicated that they had already begun exploring or piloting quantum-related initiatives.
The HKMA will continue to support the banking sector's PQC transition, with the aim of achieving full sectoral readiness (a QPI score of 10) by 2030 through practical guidance, training and industry engagement. Relevant measures include:
- A PQC toolkit, to be co-developed in collaboration with the School of Business and Management of the Hong Kong University of Science and Technology and the industry, designed to assist banks in identifying priorities for transition planning and enhancing cryptographic agility; and
- A series of workshops to help banks build capability, strengthen preparedness for PQC, and explore the potential future use of quantum technologies in a responsible manner.
The full Whitepaper, including detailed QPI findings and recommendations, is available on the HKMA website.
[Note 1]FiNETech8 was co-hosted by the HKMA, Hong Kong Cyberport Management Company Limited, the Fintech Association of Hong Kong and the School of Business and Management of the Hong Kong University of Science and Technology. For details about the FiNETech series:
https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/04/20240426-4/
[Note 2]Fintech Promotion Blueprint,HKMA (2026)
https://www.hkma.gov.hk/media/eng/doc/key-information/press-release/2026/20260203e3a1.pdf
FiNETech8 brought together over 300 practitioners from both the financial services and technology industries to prepare for the quantum era. Source: HKSAR Government Press Releases
The Executive Director (Banking Supervision) of the Hong Kong Monetary Authority, Ms Carmen Chu, delivered opening remarks at FiNETech8 today (July 27), announcing the first Quantum Preparedness Index. Source: HKSAR Government Press Releases
Steering Committee on District Governance convenes seventh meeting
The Chief Secretary for Administration, Mr Chan Kwok-ki, chaired the seventh meeting of the Steering Committee on District Governance today (July 27) to steer and direct various bureaux and departments in formulating strategies on issues of district concern and to follow up on the implementation progress of the 12 key district initiatives identified during the first six meetings.
Mr Chan said, "Since the establishment of the Steering Committee and the Task Force on District Governance three years ago, they have steadfastly adhered to people-oriented principles. Through top-level supervision and interdepartmental collaboration, they have co-ordinated various bureaux and departments to jointly take forward multiple measures closely related to citizens' daily lives. These efforts have enhanced district services, improved environmental hygiene and upgraded community facilities, thereby responding to public needs and translating the achievements of enhanced district governance into tangible community improvements that citizens can see and benefit from."
At the meeting, the Steering Committee followed up on the work progress of 12 district issues of public concern (Note) identified at previous meetings, and provided directives to relevant bureaux and departments in a wide range of areas covering district services, environmental hygiene, and community facilities, all aimed at creating a better living environment for the public.
In terms of district services, as at end-May 2026, the District Services and Community Care Teams (Care Teams) in all districts had visited or reached out to over 118 000 singleton and doubleton elderly households, carers of elderly persons and persons with disabilities. More than 3 900 households (involving over 4 400 elderly persons or persons with disabilities) were referred by the Care Teams to receive subsidies for installation of the Care-On-Call device. The Care Teams have started visiting high-risk households in "three-nil" buildings since March this year to help build a more comprehensive community support network. In addition, in the 2025/26 school year, over 10 000 students from 207 primary schools participated in the School-based After School Care Service Scheme (the Scheme), representing an increase of 81 schools compared with the previous school year. The Scheme will continue to have no cap on the number of places in the 2026/27 school year to support more families in need of care services.
In terms of environmental hygiene, the Food and Environmental Hygiene Department (FEHD) has continued to step up its rodent control efforts and make good use of technology. It has fully deployed thermal imaging cameras coupled with artificial intelligence technology to monitor the rodent situation, enabling the department to grasp rodent activity patterns and movement routes at different locations. This allows for flexible resource allocation and the implementation of more targeted rodent control operations. The FEHD has also stepped up enforcement actions to tackle rodent infestations in private premises. Between January and June 2026, it issued a total of 171 Notices of Elimination of Vermin to building management personnel or owners, requiring them to promptly address rodent infestation in their buildings. Furthermore, the FEHD is actively exploring the use of innovative technology to enhance the efficiency of street cleaning services. In May 2026, it expanded the trial of autonomous street cleaning robots to the Kai Tak New Development Area.
In terms of community facilities, the Housing Department continues to carry out improvement works for public housing estates and has already completed facade beautification projects for nine housing estates. The Highways Department has resurfaced a total of 80 sections of pavement, measuring more than 26 kilometres in aggregate length, and is now making every effort to advance the pavement and carriageway resurfacing project in the core Lan Kwai Fong area, with the aim of completion before Halloween this year. In addition, the Transport Department (TD) is progressively installing new electronic audible traffic signals (eATs) at signalised junctions across the territory. The new devices incorporate additional functions including voice messages of crossing locations and touchless pedestrian push buttons to better suit the needs of visually impaired persons and other pedestrians. By the end of June 2026, the TD had completed the replacement at more than 600 junctions throughout Hong Kong.
In accordance with the overall strategies set by the Steering Committee on District Governance, the Task Force on District Governance, chaired by the Deputy Chief Secretary for Administration, Mr Cheuk Wing-hing, will continue to co-ordinate bureaux and departments in taking forward the various district initiatives to respond to citizens' aspirations with concrete results and truly enhance their sense of achievement.
Note: The 12 district issues are (1) expanding after-school care services and enhancing support for parents; (2) caring for the elderly and enhancing community support; (3) fostering clean markets and mobilising the community to participate in anti-rodent work; (4) enhancing public order and combating crimes on all fronts; (5) improving pedestrian facilities and ensuring road safety; (6) enhancing the community environment and strengthening local characteristics; (7) improving the environment of public housing estates and creating comfortable homes; (8) caring for the elderly and promoting digital inclusion; (9) improving the waiting environment at public transport interchanges to enhance the travel experience of people; (10) combating water dripping from air-conditioners in buildings to improve the community environment; (11) cleaning pedestrian walkways to improve the cityscape; and (12) strengthening thematic plantings.
The Chief Secretary for Administration, Mr Chan Kwok-ki, chaired the seventh meeting of the Steering Committee on District Governance today (July 27) to steer and direct various bureaux and departments in formulating strategies on issues of district concern and to follow up on the implementation progress of the 12 key district initiatives identified during the first six meetings. Photo shows Mr Chan; the Deputy Chief Secretary for Administration, Mr Cheuk Wing-hing; and the Permanent Secretary for Home and Youth Affairs, Mr Patrick Li, exchanging views with other participants on district issues during the meeting. Source: HKSAR Government Press Releases
The Chief Secretary for Administration, Mr Chan Kwok-ki, chaired the seventh meeting of the Steering Committee on District Governance today (July 27) to steer and direct various bureaux and departments in formulating strategies on issues of district concern and to follow up on the implementation progress of the 12 key district initiatives identified during the first six meetings. Photo shows Mr Chan (second right) speaking at the meeting. Sitting next to him are the Deputy Chief Secretary for Administration, Mr Cheuk Wing-hing (third left), and the Permanent Secretary for Home and Youth Affairs, Mr Patrick Li (second left). Source: HKSAR Government Press Releases
