China treasury bond futures open lower Wednesday

China's treasury bond futures opened lower on Wednesday, with contract for settlement in December opening at 96.236 yuan (15.65 U.S. dollars), down 0.098 yuan.

The contract for settlement in March 2015 opened at 96.880 yuan, down 0.028 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.