China's overnight Shibor interbank rate decreases Monday
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The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 37 basis points to 1.7 percent Monday.

The seven-day Shibor decreased 1.4 basis points to 2.691 percent, while the two-week rate was down 2.6 basis points to 2.895 percent.

The one-month Shibor remained unchanged at 2.857 percent, with the three-month rate up 1.4 basis points to 2.923 percent, and the six-month rate up 0.9 basis points to stand at 2.955 percent.

The nine-month rate gained 1 basis points to 3.04 percent, and the one-year rate rose 0.5 basis point to 3.147 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