Issued in 1901 by the French Post Office in Hoi Hao, this 2 centimes stamp features the Navigation and Commerce design overprinted in red with “HOI HAO” and a double-figure Chinese denomination. Designed by Louis-Eugène Mouchon and printed in typography at the Imperial Printing Office in Paris, the stamp appears in reddish brown and blue on chamois paper, measures 20 by 24 mm, and is perforated 14 x 13½. The classical allegorical figures represent trade and navigation, reflecting France’s economic and symbolic presence in colonial Asia. This issue is catalogued as Scott HH 2 (Michel FR-IC B2II, Yvert FR-HH 2, Gibbons FR-HH 2) and belongs to the early overprint series used in French treaty ports across China. It is a key issue for collectors of colonial postal history. Estimate "$85 – 105"