China's five-year treasury bond futures opened higher on Monday, with contract for settlement in December opening at 99.03 yuan (15.59 U.S. dollars), up 0.02 percent. The contract for settlement in September and the March 2016 contract 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.
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