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Interbank borrowing rate declines further

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 24.5 basis points to 2.041 percent on Thursday. The seven-day Shibor shed 9.2 basis points to 2.705 percent, while the two-week rate was down 0.9 basis points to 2.923 percent. The one-month Shibor dropped 1.8 basis points to 2.825 percent, the three-month rate was down 1.2 basis points to 2.807 percent, and the six-month rate edged down 0.9 basis points to stand at 2.848 percent.

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