China treasury bond futures close higher Friday

China's treasury bond futures closed higher on Friday, with the contract for settlement in September rising 0.08 percent at 93.238 yuan (15.28 U.S. dollars).

The contract for settlement in December gained 0.1 percent to close at 93.66 yuan. The contract for settlement in March 2015 gained 0.1 percent to close at 94 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.