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Chinese exporters turn to emerging markets with intermediate goods

Shipments to ASEAN grew 24% in January-April, outpacing overall export growth

A growing proportion of shipments from China are destined for emerging markets such as countries in ASEAN, the Middle East and Latin America.

Qingdao port in eastern China opened 38 new routes in the past year, mostly to emerging countries along the route of China's Belt and Road initiative. The new routes have helped to propel Qingdao to become China's third-largest container port after Shanghai and Zhoushan, handling nearly 7 million 20-foot equivalent units, or TEUs, in the first quarter -- an increase of 16.6% from a year earlier.

A large proportion of the containers handled in Qingdao carry intermediate materials, which are semifinished articles used in the manufacture of final goods, and capital items including machinery and tools used to make consumer products.

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