The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, rose 9.7 basis points to 1.421 percent Tuesday.
The seven-day rate fell 1.9 basis points to 1.985 percent, the one-month rate went down 0.1 basis points to 2.312 percent, and the one-year rate stayed flat at 2.65 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