China treasury bond futures close lower Tuesday

China's treasury bond futures closed lower on Tuesday, with the contract for settlement in September closing 0.21 percent lower at 93.4 yuan (15.2 U.S. dollars).

The contract for settlement in December lost 0.2 percent to close at 93.8 yuan, while the contract for settlement in March 2015 went down 0.17 percent to 94.1 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.