China treasury bond futures close lower Monday

China's treasury bond futures closed lower on Monday, with the contract for settlement in September declining 0.12 percent at 93.200 yuan (15.15 U.S. dollars).

The contract for settlement in December fell 0.15 percent to close at 93.696 yuan. The contract for settlement in March 2015 fell 0.14 percent to 94.130 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.