A child born in the UK with at lease one British Citizen parent will automatically become a British Citizen. See section 1(1)(a) of the British Nationality Act 1981.
If the British Citizen by descent parent stayed in the UK for at lease three years before the birth of the child overseas and meets the requirements set out in section 3(3), then he can register the child as a British Citizen under section 3(2) of the British Nationality Act 1981. As I said before , if you received your British Citizenship as the child of the main applicant under the British Nationality Selection Scheme (under section 1(4) of the British Nationality (Hong Kong) Act 1990), then your application is not likely to be successful. However, if you were born after one of your parent received British Citizenship as the main applicant (under section 1(1)), then you have a chance to register your child under section 3(2).
Section 3(5) - the whole family move to the UK and the child can register to become a British Citizen after 3 years' residence in the UK and before he becomes an adult under section 3(5).
Source - British Nationality Act 1981
https://www.legislation.gov.uk/ukpga/1981/61