China treasury bond futures close higher Wednesday

China's treasury bond futures closed higher on Wednesday, with the contract for settlement in June 2016 finishing 0.07 percent higher at 101.075 yuan (15.55 US dollars).

The September 2016 contract closed 0.05 percent higher at 100.54 and the December 2016 contract edged up 0.02 percent to close at 100.15 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.