Emprical analysis on shibor as basic rate on the monetary market

Determination of the benchmark interest rate is the core under the marketization of the interest rate. Shibor is established for cultivating the standard rate in our country. It is essential to see whether Shibor can be the standard rate in our monetary market. In this paper, we will get solutions to this issue and make further suggestions by researching the relationship between Shibor and other market interest rates.