China treasury bond futures close higher Monday

China's treasury bond futures closed higher Monday, with the contract for settlement in September up 0.21 percent to finish at 97 yuan (15.19 U.S. dollars).

The contract for settlement in December gained 0.26 percent to end at 98.56 yuan. The March 2016 contract was up 0.18 percent to 98.75 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