Shibor drops to 0.87pc

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, declined by 3.4 basis points to 0.874 percent today.

The seven-day rate climbed 11.6 basis points to 1.774 percent, the one-month rate edged down 0.1 basis points to 1.307 percent, and the one-year rate was flat at 1.682 percent.