China treasury bond futures open lower Thursday

China's treasury bond futures opened lower on Thursday, with contract for settlement in March 2015 opening at 98.738 yuan (16.09 U.S. dollars), down 0.046 yuan.

The contract for settlement in June 2015 opens 0.014 yuan lower at 99.370 yuan, and September 2015 opens 0.002 yuan lower at 99.950 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 and started trading on Sept. 6, 2013.