Let's not forget that CX is still at 30% of pre-pandemic capacity, hopes to be at 70% by the end of 2023. The goal is to be back to pre-pandemic capacity in late 2024. It isn't surprising that there isn't a lot of premium cabin awards available right now and it will continue to be a challenge over the next few years.
With restrictions being lifted in HKG, there will be additional demand too.
James