Representatives of the five member companies of China's first consortium to promote the application of quantum computing in finance reach agreements. [Photo/WeChat account: hefeigaoxinfabu]

China's first quantum finance consortium to promote the application of quantum computing in finance was established in Hefei National High-tech Industry Development Zone, Hefei, capital of Anhui province, on April 19.

The consortium is made up of Hefei-based quantum computing company Origin Quantum and four domestic leading finance companies -- CCB International, Orient Securities, CICC Capital, and China UMS.

Guo Guoping, deputy director of the Key Laboratory of Quantum Information of the Chinese Academy of Sciences and chief scientist of Origin Quantum, said such cooperation between domestic leading finance and quantum computing companies to explore the application of quantum computing in finance would be constructive for China's plan to develop quantum information technology.

Quantum computing is considered a technology that can bring great benefits. It has the potential to revolutionize financial modeling, risk management, and portfolio optimization, said Zhang Hui, general manager of Origin Quantum.

In the foreseeable future, quantum computing will significantly improve financial intelligence and the response speed of financial services, save energy and equipment space, and make a positive contribution to maintaining the country's financial security and the competitiveness of financial technology, according to Zhang.

A class to help financiers learn about quantum computing and use related technology was also launched by Origin Quantum on the same day.