BEIJING -- China's stock index futures closed higher on Wednesday, with the contract for delivery in March 2013, the most actively traded, up 1.27 percent to 2,648 points.

The April 2013 contract gained 1.29 percent to 2,661.8 points, while the June 2013 contract closed at 2,679 points, up 1.36 percent. The September 2013 contract went up 1.37 percent to close at 2,701.6 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.