China's five-year treasury bond futures opened higher on Wednesday, with the contract for settlement in December gained 0.09 percent at 100.26 yuan (about 15.70 U.S. dollars).

The contract for settlement in March 2016 up 0.08 percent to open at 99.91 yuan. The contract for settlement in June 2016 gained 0.11 percent to open at 99.84 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 and started trading on Sept. 6, 2013.

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