China treasury bond futures open lower Monday

China's treasury bond futures opened lower on Monday, with contract for settlement in September opening slightly lower at 93.128 yuan (15.27 U.S. dollars).

The contract for settlement in December opened slightly lower at 93.648 yuan.

The contracts are agreements to buy or sell treasury bonds at a predetermined price and set date. They allow investors to bet on or profit from the movements in the value of the bonds.

The treasury bond futures were launched at the Shanghai-based China Financial Futures Exchange (CFFEX) and started trading on Sept. 6, 2013.