FFPguy, although your bags will be tagged through, yes you'd still have to pick them up and take them over to T1 where AC flies. Sorry I wasn't thinking and had in my mind the T1 layout where I thought CX also lands at. My mistake!
You would have to take yourself and bag to T1 and check in there. If all the reservations are on one ticket, CX may be able to print even AC's boarding pass ! Yes its possible!