China Treasury Bond Futures Close Higher Monday

China's treasury bond futures closed higher Monday, with the contract for settlement in September 2016 closing 0.12% higher at 102.2 yuan (about 15.39 U.S. dollars). 
According to China's News Agency (Xinhua), the December 2016 contract closed 0.11% higher at 101.8 yuan. 
The March 2017 contract finished 0.08% higher at 101.5 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.