China treasury bond futures close higher Friday

China's treasury bond futures closed higher on Friday, with the contract for settlement in December rising 0.448 yuan to 94.702 yuan (15.41 U.S. dollars).

The contract for settlement in March 2015 rose 0.442 yuan to close at 95.102 yuan. The contract for settlement in June 2015 gained 0.450 yuan to 95.400 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.