China Hushen 300 index futures close lower on Wednesday

China's Hushen 300 index futures closed lower on Wednesday, with the contract for September, the most actively traded, down 2.87 percent to close at 2,749.6 points.

The October contract dipped 5.13 percent to 2674.4 and the December contract fell 4.14 percent to close at 2,600.2. The March 2016 contract lost 2.37 percent to 2,609.8.

The stock-index contracts, agreements to buy or sell the Hushen 300 Index at a preset value on an agreed date, are designed to allow investors to bet on and profit from either gains or declines in the market.

The index futures was launched at the China Financial Futures Exchange (CFFEX) and started trading from April 16, 2010. The CFFEX has set the base value for all the four contracts at 3,399 points.