BEIJING, Nov. 3 -- China's treasury bond futures opened higher on Monday, with contract for settlement in December opening 0.23 percent higher at 95.75 yuan (15.56 U.S. dollars).

The contract for settlement in March 2015 opened 0.21 percent higher at 96.25 yuan and the contract for settlement in June 2015 opened 0.45 percent higher at 96.83 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.