China treasury bond futures close lower Friday

China's treasury bond futures closed lower on Friday, with the contract for settlement in September closing 0.02 percent lower at 93.4 yuan (15.2 U.S. dollars).

The contract for settlement in December declined 0.11 percent to close at 93.7 yuan. The contract for settlement in March 2015 lost 0.07 percent to close at 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.