Official news:

1) FM will move out from PEK T3 to T2 to co-locate with MU on 28MAR.
*A and *O currently uses T3 - and *S uses T2. If the new MU is joining either *A or *O then why move FM back and forth? This indicates that MU has already decided to pursue its *S membership.

2) FFP Status will be recognised by MU and FM.
FM will exit *A very soon. *A doesn't generally allow flying non-member airline to get *A status.

3) Mileage can be earned by members of both programmes.