BEIJING, March 8 (Xinhua) -- China's five-year treasury bond futures opened lower on Monday, with the contract for settlement in March 2021 having no trading at opening.

The contract for settlement in June 2021 opened 0.05 percent lower at 99.29 yuan (about $15.32). The contract for settlement in September 2021 opened 0.06 percent lower at 98.99 yuan.

The contracts are agreements to buy or sell treasury bonds at a predetermined price on a 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.