BEIJING, Oct. 9 (Xinhua) - China's five-year treasury bond futures opened higher on Tuesday, with the contract for settlement in December 2018 opening 0.01 percent higher at 97.76 yuan (about 14.38 U.S. dollars).

(Photo: VCG)

The contracts for settlement in March and 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.