This rare full sheet of 40 mint never hinged stamps was issued on May 19, 1948, to commemorate the national stamp exhibition held in Shanghai during a pivotal moment in China’s philatelic and political history. Featuring a detailed lithographic design in dark green, the stamp combines motifs of aviation, maritime transport, and classic philatelic symbols, including a soaring aircraft, a sailing ship, and a magnified postage stamp – celebrating both national infrastructure and the art of stamp collecting. Issued in a limited edition of 500,000 and printed by Dah Yeh Printing Co. in Shanghai, the stamps are imperforate ("toothless") and were released ungummed, typical of commemorative issues in a time of paper shortages and monetary instability. Measuring 48 x 29 mm, this issue was never intended for postal use, but stands as a culturally significant memorial to organized philately in the Republic's final years on the mainland. Catalogued as Michel CN-IM 839B, Stanley Gibbons CN-IM 1002a, and China Stamp Society CN-IM 1192, it remains unlisted in some Chinese domestic catalogues due to its limited circulation and exhibition purpose. Condition: Post-office fresh imperforate sheet with bold impression, even margins, and clean ungummed surface. Estimate "$320 – 380".