China's overnight Shibor interbank rate declines Friday
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The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost on China's interbank market, dropped 42.9 basis points to 2.155 percent Friday.

The seven-day Shibor decreased 14.7 basis points to 2.511 percent, while the two-week rate was down 16.5 basis points to 2.565 percent.

The one-month Shibor grew 0.6 basis points to 2.7 percent, the three-month rate went down 0.1 basis points to 2.75 percent, and the six-month rate remained unchanged at 2.85 percent.

The nine-month rate fell 0.1 basis to 2.95 percent, and the one-year rate also decreased 0.1 basis to 3.059 percent.

Shibor is a simple, no-guarantee, wholesale interest rate calculated by arithmetically averaging all the interbank RMB lending rates offered by the price quotation group of 18 commercial banks with a high credit rating, with the four highest and four lowest quotations excluded.

Author： 　　　Source：xinhua　　　 Editor：Yang Fan