The discovery of the Nan'ao One shipwreck off the southern coast of China throws new light onto Chinese maritime trade during the late Ming period. The primary cargo was a massive consignment of blue-and-white export porcelain, most probably destined for markets in Southeast Asia or Europe. Compositional analysis was performed on 11 fragments of blue-and-white export porcelain from the wreck site and on 64 samples from 3 Chinese porcelain production centres. The results indicate that the blue-and-white export porcelain recovered from the Nan'ao One came from two sources: the Jingdezhen and Zhangzhou kilns. Given the location of the shipwreck, the most probable destinations were the Portuguese trading centre at Macau or the Dutch at Batavia.