China treasury bond futures close higher Monday

China's treasury bond futures closed slightly higher Monday, with the contract for settlement in September closing 0.1 percent higher at 94.4 yuan (15.48 U.S. dollars).

The contract for settlement in December edged up by 0.1 percent to close at 94.8 yuan. The March 2015 contract went up by 0.01 percent to close at 95.0 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 and started trading on Sept. 6, 2013.