China treasury bond futures open higher Monday

China's treasury bond futures opened higher on Monday, with contract for settlement in December opening 0.47 percent higher at 96.702 yuan (15.75 U.S. dollars).

The contract for settlement in March 2015 opened 0.99 percent higher at 97.80 yuan while the June 2015 contract gained 1.2 percent to open at 98.42 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 (CFFEX) and started trading on Sept. 6, 2013.