China's five-year treasury bond futures opened higher on Wednesday, with the contract for settlement in June 2017 opening 0.005 percent higher at 96.805 yuan (about 14.04 U.S. dollars).

The contract for settlement in September 2017 opened 0.002 percent higher at 97.055 yuan. The contract for settlement in December 2017 opened at 97.150 yuan,0.041 percent higher from the previous close.

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.