Star Alliance member Lufthansa is selling cheap flights from Toulouse, Paris, Marseille, and Lyon to Hong Kong. The flights only cost €348. Luggage is not included in that cheapest fare. You can, however, pay €420 for the Flex fare, which not only includes luggage but is also fully refundable.
Traveling to Hong Kong is currently not really possible, and we don’t know when the entry restrictions will be lifted. Therefore, we recommend booking the flex fare, as you’d be safe that way because you could always simply cancel your booking and get a full refund.