I’m based in HK as well and have been weighing these two as well. It is definitely easier to earn QPoints than CX status points, QR gives you QPoints based on class of travel and they’re a lot more transparent with how they give points. On CX it’s more based on how much you pay. I managed to get silver within a year with two return flights to Africa on Y (albeit the most expensive fare class), but would not get CX Silver if I did the same routing.

That said, QR does not have lounges in HKG, you only get a meal voucher on Silver tier. CX definitely has better lounges if you’re based in HKG. The lounges in DOH is nice based on what time you are there. You’ll need QR Gold to get lounge access in HK, but I think QR gold and CX silver takes about the same effort and money so you get the added one world benefits with QR.

You can earn QR status points if you fly CX but you have to check what fare you are buying, this is clearly stated on their QCalculator. It’s a bit of a hassle everytime to check but at least you know if you are getting it or not. In my experience, I often end up buying a cheaper CX fare bracket (their Saver Fares) which means I don’t earn QPoints or Avios, in those cases I’ll credit to CX but obviously not enough to earn status.