Overseas renminbi lending by Chinese banks reached a record RMB3.4 trillion ($480 billion), marking a 35% increase from the previous high, according to China's State Administration of Foreign Exchange. The renminbi's share in global trade finance rose from under 2% to 7.6% over three years, Swift data showed. China's Cross-Border Interbank Payment System now processes over RMB40 trillion quarterly, reflecting Beijing's push to reduce dollar dependence in global finance.