Issued under Japanese occupation in 1943, this overprinted $200 on 8 cent Central China stamp features the likeness of revolutionary martyrs and was part of the widely used definitive series during wartime. The underlying design, printed in dark orange by Commercial Press Ltd., Hong Kong, was originally denominated 8 Chinese cents and overprinted “20000 圓” (equivalent to 200 Chinese dollars) in black to reflect rampant inflation. Produced without watermark and with variable perforation, it was printed via gravure. This block of four includes the full margin with printing house imprint at top and is in mint never hinged condition. Catalog references include Scott IM 9N77, Michel JP-CC 73, Yvert CN-OJ 68, Stanley Gibbons JP-CC 94, and China Stamp Society CN-IM SN108. A clean and sharply struck specimen from the Japanese-controlled postal zones. Estimate "$60 – 75".