The Hong Kong Monetary Authority (HKMA), in partnership with The Hong Kong University of Science and Technology (HKUST), has launched the Post-Quantum Cryptography (PQC) Toolkit, establishing an operational and supervisory framework to guide licensed banks in transitioning their infrastructure away from vulnerable classical public-key encryption.
The joint framework serves as the core operational roadmap to elevate all regulated institutions to full quantum preparedness (a QPI score of 10.0) by 2030.
Co-developed by HKMA supervisory teams and HKUST faculty across cybersecurity, cryptography, finance, and corporate governance, the toolkit is structured to translate broad technical awareness into institutional action.
The initial QPI evaluation indicated that while financial institutions operating in Hong Kong acknowledged the theoretical risk of cryptanalytically relevant quantum computers, actual system-level migration remained in an early stage.
Official release statements, regulatory circulars, and the foundational sector survey can be accessed via the Hong Kong Government Press Release here, the HKUST Announcement Portal here, the HKMA Quantum Preparedness Announcement here, and the complete HKMA Quantum Preparedness of Hong Kong’s Banking Sector Whitepaper here.