Hong Kong and mainland Chinese regulators have announced they finally have come to an agreement for the long-awaited inclusion of exchange traded funds into the Stock Connect programme after years of multiple missed deadlines.

Initial eligibility requirements have been outlined, including limiting Hong Kong-listed ETFs to those with at least HK$1.7bn ($217mn) in assets over the past six months, and only including products that track indices that primarily track Hong Kong-listed stocks.

The China Securities Regulatory Commission and the Hong Kong Securities and Futures Commission said in a joint statement that mainland and Hong Kong investors will be permitted to trade eligible ETFs listed on each other’s exchanges through the use of local securities firms or brokerages.