China's overnight Shibor interbank rate declines Monday
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The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 17.1 basis points to 2.315 percent Monday.

The seven-day Shibor fell 11.9 basis points to 2.579 percent, while the two-week rate was down 19.8 basis points to 2.713 percent.

The one-month Shibor dropped 3.7 basis points to 2.782 percent, the three-month rate was down 0.6 basis points to 2.795 percent, and the six-month rate edged down 0.6 basis points to stand at 2.835 percent.

The nine-month rate decreased 0.7 basis points to 2.917 percent, and the one-year rate was down 0.4 basis points to 3.047 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