China stock index futures close higher

China's stock index futures closed higher on Wednesday, with the contract for February 2014 up 1.16 percent from the previous trading day to close at 2,304.2 points.

The March 2014 contract, the most actively traded, rose 1.13 percent to end at 2,308.8 points. The June 2014 contract gained 1.16 percent to end at 2,310 points, while the September 2014 contract went up 1.11 percent to 2,310 points.

The stock-index contracts, agreements to buy or sell the Hushen 300 Index at a preset value on an agreed date, are designed to allow investors to bet on and profit from either gains or declines in the market.

The index futures was launched at the China Financial Futures Exchange (CFFEX) and started trading from April 16, 2010. The CFFEX has set the base value for all the four contracts at 3,399 points.