A 1968 unissued stamp bought at auction for £712,000
A new world record price for a Chinese issue was set at a Hong Kong auction in February.
The 1968 Mao's Inscription to Japanese Worker Friends corner block of four went for HK$8,970,000 (about £712,000).
The stamp was never issued because the Japanese government objected to its potential to incite the Japanese population. The block is the largest surviving multiple.
Another unissued 1968 stamp, Victory of the Cultural Revolution, went for HKS$2,530,000 (about £200,000).
The highest realisation for classic China was $5,520,000 (about £439,000), for a corner strip of three of the $5 inverted surcharge from the 1897 Red Revenue series. This was a world record for a classic China multiple. A normal pair of the Red Revenue went for HK$3,450,000 (about £274,000).
Interasia founder Jeffrey Schneider said: 'Philately has a special place in Chinese culture, with rare stamps regarded as important cultural icons and treasures, just like art, and thus fiercely competed over.'
He added: 'However, we are seeing a level of interest and excitement in People’s Republic stamps that is absolutely breathtaking, with many increasing 200 per cent or more in value in the past two or three years in a white-hot market.'
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