The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, rose 1.8 basis points to 1.604 percent Wednesday.
The seven-day rate gained 1.9 basis points to 1.805 percent, the one-month rate went down 4.4 basis points to 2.354 percent, and the one-year rate dropped 2.3 basis points to 2.509 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.
