China's five-year treasury bond futures opened lower on Thursday, with contract for settlement in September 2015 opening 0.02 yuan lower at 97.36 yuan (15.97 U.S. dollars).
The contract for settlement in December 2015 opened flat at 99.3 yuan and that for settlement in March 2016 opened 0.05 yuan lower at 99.67 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.
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