China treasury bond futures close higher Wednesday

China's treasury bond futures closed higher on Wednesday, with the contract for settlement in June closing 0.11 percent higher at 93.062 yuan (15.1 U.S. dollars).

The contract for settlement in September added 0.12 percent to close at 93.664 yuan, while the December contract edged up 0.11 percent to close at 93.928 yuan.

The contracts are agreements to buy or sell treasury bonds at a predetermined price and set date. They allow investors to bet on and profit from the movements in the value of the bonds.

The treasury bond futures were launched at the Shanghai-based China Financial Futures Exchange (CFFEX) and started trading on Sept. 6, 2013.