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Interested in emerging market stocks? Emerging markets can offer a new source of diversification, as well as a source of potential growth.

We ran a screen on US-traded stocks of companies based in China, an emerging market country, for those with the most significant net institutional purchases over the current quarter.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

Do you think these stocks will outperform like hedge fund managers expect? Use this list as a starting point for your own analysis.

1. AirMedia Group Inc. (NASDAQ:AMCN): Operates digital media network in China for air travel advertising. Net institutional purchases in the current quarter at 2.1M shares, which represents about 6.96% of the company's float of 30.16M shares.

2. China Biologic Products, Inc. (NASDAQ:CBPO): Engages in the research, development, manufacturing, and sale of plasma-based pharmaceutical products. Net institutional purchases in the current quarter at 647.0K shares, which represents about 9.7% of the company's float of 6.67M shares.

3. ChinaEdu Corporation (NASDAQ:CEDU): Provides educational services to the online degree programs of universities in the People's Republic of China. Net institutional purchases in the current quarter at 513.5K shares, which represents about 5.41% of the company's float of 9.50M shares.

4. Ctrip.com International Ltd. (NASDAQ:CTRP): Provides travel services for hotel accommodations, airline tickets, and packaged tours in the People's Republic of China. Net institutional purchases in the current quarter at 4.4M shares, which represents about 3.34% of the company's float of 131.67M shares.

5. Phoenix New Media Limited (NYSE:FENG): Provides content on an integrated platform across Internet, mobile, and TV channels in the People's Republic of China. Net institutional purchases in the current quarter at 4.1M shares, which represents about 15.36% of the company's float of 26.70M shares.

6. Agria Corp. (NYSE:GRO): Net institutional purchases in the current quarter at 4.2M shares, which represents about 18.35% of the company's float of 22.89M shares.

7. Home Inns & Hotels Management Inc. (NASDAQ:HMIN): Develops, leases, operates, franchises, and manages a chain of economy hotels in the People's Republic of China. Net institutional purchases in the current quarter at 3.5M shares, which represents about 14.47% of the company's float of 24.19M shares.

8. 51job Inc. (NASDAQ:JOBS): Provides integrated human resource services primarily in the People's Republic of China. Net institutional purchases in the current quarter at 553.3K shares, which represents about 6.15% of the company's float of 9.00M shares.

9. LDK Solar Co., Ltd. (NYSE:LDK): Engages in the design, development, manufacture, and marketing of photovoltaic products; and development of power plant projects. Net institutional purchases in the current quarter at 2.4M shares, which represents about 3.81% of the company's float of 63.05M shares.

10. China Nuokang Bio-Pharmaceutical Inc. (NASDAQ:NKBP): Focuses on the research, development, manufacture, marketing, and sale of hospital-based medical products in China. Net institutional purchases in the current quarter at 151.5K shares, which represents about 3.12% of the company's float of 4.85M shares.

11. Qihoo 360 Technology Co. Ltd. A (NYSE:QIHU): Provides Internet and mobile security products in the People's Republic of China. Net institutional purchases in the current quarter at 18.4M shares, which represents about 32.3% of the company's float of 56.97M shares.

12. Qiao Xing Mobile Communication Co., Ltd. (NYSE:QXM): Develops, manufactures, markets, and sells mobile handsets in the People's Republic of China. Net institutional purchases in the current quarter at 874.4K shares, which represents about 4.84% of the company's float of 18.06M shares.

13. Spreadtrum Communications Inc. (NASDAQ:SPRD): Operates as a fabless semiconductor company that designs, develops, and markets baseband processor and RF transceiver solutions for wireless communications and mobile television markets. Net institutional purchases in the current quarter at 9.6M shares, which represents about 26.26% of the company's float of 36.56M shares.

14. 21Vianet Group Inc. (NASDAQ:VNET): Provides carrier-neutral Internet data center services in China. Net institutional purchases in the current quarter at 3.1M shares, which represents about 8.8% of the company's float of 35.24M shares.

*Institutional data sourced from Yahoo! Finance, all other data sourced from Finviz.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: 14 Chinese Stocks Hedge Funds Love