This paper reports the second part of the study on the structural behaviour of stainless steel circular hollow sections subjected to combined axial load and bending moment. A series of numerical parametric studies is presented, using the validated finite element (FE) models from the companion paper, with the aim of generating further structural performance data over a wider range of stainless steel grades, cross-section slendernesses and combinations of loading. The considered parameters include the outer cross-section diameter, the ratio of outer cross-section diameter to thickness and the initial loading eccentricity. Both the experimentally and numerically derived section capacities were compared with the strength predictions determined from the current European code, the American specification and the Australian/New Zealand standard, allowing the applicability of each codified method to be assessed. The comparisons revealed that the current design standards generally result in unduly conservative and scattered strength predictions for stainless steel circular hollow sections under combined loading, which can be primarily attributed to the neglect of strain hardening in the determination of cross-section resistances and to the use of linear interaction formulae. To overcome these shortcomings, improved design rules are proposed through extension of the deformation-based continuous strength method (CSM) to the case of circular hollow sections subjected to combined loading. Comparisons between the proposals and the test and FE results indicate a high level of accuracy and consistency in the predictions. The reliability of the proposed approach was confirmed by means of statistical analyses according to EN 1990.