After reviewing the Measures which QFII/RQFII trade Domestic Securities and Futures,
The interpretation is as following: (not confirmed by regulators, just personal interpretation, for your reference only. )
It could be the Exchanges to amend the specific trading rules for QFII, and those rules should be approved by CSRC.
CSRC may not make specific guidelines for QFII on financial products trading this time.
The previous guidelines for QFII trading index futures will be invalid after 1st Nov, 2020.
So before this date, with CSRC’s agreement with PBOC and SAFE , the financial products and the trading models available for QFII will be announced.