China's treasury bond futures closed lower on Wednesday, with the contract for settlement in March 2016 closing 0.07 percent lower at 100.49 yuan (about 15.33 U.S. dollars). The June 2016 contract closed 0.06 percent lower at 100.12 yuan. The September 2016 contract dropped 0.08 percent to close at 99.91 yuan. The contracts are agreements to buy or sell treasury bonds at a predetermined price and set date. They allow investors to bet on and 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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