The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 7.8 basis points to 1.443 percent Thursday.
The seven-day rate rose 3.8 basis points to 2.324 percent. The one-month rate went down 4.1 basis points to 2.454 percent, and the one-year rate dropped 1.1 basis points to 2.834 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.
