China's treasury bond futures opened lower on Wednesday, with contract for settlement in June opening 0.11 percent lower at 93.1 yuan (15.1 U.S. dollars). The contract for settlement in September was also down by 0.11 percent to open at 93.5 yuan. 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 (CFFEX) and started trading on Sept. 6, 2013.