China's five-year treasury bond futures opened lower on Thursday, with the contract for settlement in December opening down 0.08 percent at 100.19 yuan (about 15.75 U.S. dollars). The contract for settlement in March 2016 opened 0.08 percent lower at 100.16 yuan. The contract for settlement in June 2016 opened 0.33 percent lower at 100.03 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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