China treasury bond futures open higher Monday

China's treasury bond futures opened higher on Monday, with the contract for settlement in December 2013, the most actively traded one, up 0.040 yuan to 93.670 yuan (15.281 U.S. dollars). The contract for settlement in March 2014 opened 0.082 yuan higher at 93.880 yuan, while the contract for settlement in June 2014 opened at 93.996 yuan, up 0.042 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 (CFFEX) and started trading on Sept. 6, 2013.

The CFFEX set the base value for the December 2013 contract at 94.168 yuan, the March 2014 contract at 94.188 yuan and the June 2014 contract at 94.218 yuan.