China's five-year treasury bond futures opened lower on Friday, with the contract for settlement in March 2017 opening 0.072 percent lower at 97.6 yuan (about 14.1 U.S. dollars).

The contract for settlement in June 2017 opened 0.036 percent lower at 97.125 yuan. The contract for settlement in September 2017 opened at 96.78 yuan, 0.052 percent lower 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.