China treasury bond futures close lower Wednesday

China's treasury bond futures closed slightly lower on Wednesday, with the contract for settlement in September down 0.02 percent to close at 93 yuan (15.08 U.S. dollars).

The contract for settlement in December dropped 0.02 percent to close at 93.4 yuan. The contract for settlement in March 2015 dipped 0.03 percent to close at 93.9 yuan.

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