China treasury bond futures close lower Wednesday

China's treasury bond futures closed lower Wednesday, with the contract for settlement in September closing down 0.04 percent at 93.7 yuan (15.22 U.S. dollars).

The contract for settlement in December decreased 0.04 percent to close at 94.1 yuan. The contract for settlement in March 2015 dropped 0.14 percent to end at 94.3 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.