China's overnight Shibor interbank rate decreases Wednesday
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The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 12.7 basis points to 2.623 percent Wednesday.

The seven-day Shibor dipped 0.9 basis points to 2.69 percent, while the two-week rate was up 2.5 basis points to 2.809 percent.

The one-month Shibor went up 1.4 basis points to 2.77 percent, with the three-month rate climbing 0.3 basis points to 2.903 percent and the six-month rate remaining flat at 2.95 percent.

The nine-month rate edged up 0.4 basis points to 3.06 percent, and the one-year rate rose 0.8 basis points to 3.185 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