BEIJING -- China's treasury bond futures opened lower on Monday, with contract for settlement in June 2015 opening at 98.3 yuan (16.0 U.S. dollars), down 0.13 percent.
The contract for settlement in September 2015 opened 0.1 percent lower at 98.8 yuan, and the contract for settlement in December 2015 opened at 99.1 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.
