China treasury bond futures open lower Friday

China's treasury bond futures opened lower on Friday, with contract for settlement in March 2015 opening at 96.438 yuan (15.75 U.S. dollars).

The contract for settlement in June 2015 moved down 0.094 yuan to open at 96.83 yuan, while the contract for September 2015 had no trading at the opening.

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.