A new China-backed megaport in Peru may create whole new trade routes that will bypass North America entirely.

BEIJING, Nov. /PRNewswire/ -- "From Chancay to Shanghai" has become a popular slogan in Peru as the Chancay Port, a flagship project of the China-proposed Belt and Road Initiative (BRI), held a grand opening ceremony on Thursday.

"Since the beginning of the new century, the growth rate of China-Latin America goods trade volume has been much higher than the trade growth rate of Latin America and the Caribbean with the rest of the world in the same period, which highlights the high complementarity between the economies of China and Latin America," Lin said.