China treasury bond futures open flat Friday

China's five-year treasury bond futures opened flat on Friday, with contract for settlement in June 2015 opened flat at 97.5 yuan (15.96 U.S. dollars).

The contracts for settlement in September and December 2015 also opened flat with the previous trading day at 98.1 yuan and 99.6 yuan respectively.

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.