OK, lets make this abundantly clear.
The CX Cadet scheme is open to Permanent Residents ONLY.
There are basically two ways to become a permanent resident:
a) Be born in Hong Kong
b) To have lived in HK continuously for seven years. This is how I became eligible.
CX cover all costs, including student visa to Oz.
There are no exceptions. CX will not look at your application until you hold that permanent ID Card.
I hope this is of help.