China's five-year treasury bond futures opened lower on Thursday, with the contract for settlement in June 2017 down 0.55 percent to 96.425 yuan (14.16 U.S. dollars).

The contract for settlement in September opened 0.03 percent lower at 97.5 yuan. The contract for settlement in December opened 0.08 percent down at 97.38 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.