Travel Asia Miles

Cathay Pacific & Dragonair have select cities in China on sale for 30% fewer Asia Miles than usually.
The travel dates are from May 1 to June 30 and November 1 to December 30, 2014. You must issue the awards by April 30, 2014.
Most of the eligible routes are available only in Economy and Shanghai is the only city where Business awards are offered at a discount.
The award discount is only available for online bookings and applies for one-way awards as well.
Note that Cathay Pacific does charge modest fuel surcharge on its awards as well.
Conclusion
If you are planning to fly between any of the cities above and Hong Kong, redeeming Asia Miles could be an option.
The other week, I flew from Shanghai to Hong Kong and just bought an economy ticket on Hong Kong Express day before for $85.