China's five-year treasury bond futures opened lower on Wednesday, with contract for settlement in December opening at 98.65 yuan (15.51 U.S. dollars), down 0.06 percent. The March 2016 contract opened 0.04 percent lower at 98.64 yuan and the contract for settlement in September 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.