BEIJING - China's stock index futures closed higher on Wednesday with the contract for July, the most actively traded, up 1.46 percent, from the previous day to 3,108 points.

The August contract closed up 1.5 percent to 3,116.2 points. The September contract gained 1.42 percent to 3,122.2, while the December contract was up 1.38 percent, to 3,163.2 points.

The stock-index contracts, agreements to buy or sell the Hushen 300 Index at a preset value on an agreed date, are designed to allow investors to bet on and profit from both gains and declines in the market.

The index futures was launched at the China Financial Futures Exchange (CFFEX) and started trading from April 16, 2010. The CFFEX has set the base value for all the four contracts at 3,399 points.