China treasury bond futures close lower Friday

China's treasury bond futures closed lower on Friday, with the contract for settlement in March 2016 closing flat at 100.875 yuan (about 15.38 U.S. dollars).

The June 2016 contract lost 0.05 percent to close at 100.48 yuan. The September 2016 contract dropped 0.1 percent to 100.295 yuan.

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 and started trading on Sept. 6, 2013.