BEIJING, Oct. 11 (Xinhua) - China's five-year treasury bond futures opened higher on Thursday, with the contract for settlement in December 2018 opening 0.17 percent higher at 98 yuan (about 14.18 U.S. dollars).

The People's Bank of China. (Photo: VCG)

The contract for settlement in March 2019 opened 0.14 percent higher at 97.99 yuan. The contract for settlement in June 2019 had no trading at opening.

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.