The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 42.4 basis points to 2.067 percent Thursday.

The seven-day rate dropped 12 basis points to 2.665 percent.

The one-month Shibor went down 0.5 basis points to 2.813 percent, with the three-month rate edging down 0.1 basis points to 2.916 percent and the six-month rate down 0.2 basis points to 2.964 percent.

The nine-month rate edged up 0.2 basis points to 3.11 percent, and the one-year rate dropped 0.1 basis points to 3.205 percent.

Shibor is a simple, no-guarantee, wholesale interest rate calculated by arithmetically averaging interbank lending rates offered by a price quotation group of 18 commercial banks, with the four highest and four lowest quotations excluded.