The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 21.3 basis points to 0.661 percent Wednesday.
The seven-day rate gained 13.5 basis points to 1.755 percent, the one-month rate stayed flat at 1.304 percent, and the one-year rate stayed the same at 1.681 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. Enditem
