China treasury bond futures close lower Monday

China's treasury bond futures closed lower Monday, with the contract for settlement in September closing 0.06 percent lower at 93.670 yuan (15.19 U.S. dollars).

The contract for settlement in December shed 0.05 percent to close at 94.076 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.