China treasury bond futures close lower -- July 1

China's treasury bond futures closed lower Tuesday, with the contract for settlement in September closing 0.46 percent lower at 93.980 yuan ($15.28).

The contract for settlement in December edged down by 0.47 percent to close at 94.384 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.