China's five-year treasury bond futures opened higher on Thursday, with contract for settlement in September opening at 96.81 yuan (15.82 U.S. dollars), up 0.04 percent.

The contract for settlement in December opened 0.05 percent higher at 98.725 yuan and the March 2016 contract edged up 0.01 percent to open at 99.15 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.