China treasury bond futures close higher Wednesday

China's treasury bond futures closed higher on Wednesday, with the contract for settlement in September up 0.24 percent to close at 93.008 yuan (15.37 U.S. dollars).

The contract for settlement in December closed 0.29 percent higher at 93.612 yuan. The contract for settlement in March 2015 gained 0.25 percent to end at 94.046 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.