China treasury bond futures open higher Wednesday

China's treasury bond futures opened higher on Wednesday, with contract for settlement in March 2015 opening 0.04 percent higher at 97.9 yuan (16.0 U.S. dollars).

The contract for settlement in June 2015 opens 0.03 percent higher at 98.5 yuan. The contract for settlement in September 2015 had no trading at the opening.

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 and started trading on Sept. 6, 2013.