1, Yes sure they will. They have one Japanese VP oversees the Asian operation and cooperation. But do not hope too much otherwise you will see many many discounted Y class ticket will give you 0.25 of the milages across the whole alliance just as what happened to SkyTeam.

2, Yes they will. But it would be difficult for HKG because HKg is CX's hub and there are capacity issue. BA/QF shares a lounge at this moment and maybe RJ and AY will be served by BA/QF lounge in future (I hope so)...JFK already host CX but there is rumors that BA may be moved to T8 with AA....