A rare stamp set dating back to China’s Cultural Revolution has sold for €823,000 in Hong Kong, according to organisers, setting a world record for Chinese stamps sold at auction.

The connected set of four from 1968 – titled Inscription to Japanese Worker Friends – was never issued by Beijing after Japan raised objections, saying the message from Mao Zedong would incite its citizens to revolt.

The set, which is believed to be the only surviving block of four and was among 3,000 lots at the sale in the former British colony, was sold for HK$8.97 million. The auction raised a total of HK$98.7 million.

Other lots included an 1897 Qing Dynasty stamp that went under the hammer for a record HK$5.52 million and another 1968 Cultural Revolution stamp, which sold for HK$2.53 million, said organisers Interasia Auctions.

“We are seeing a level of interest and excitement in People’s Republic (of China) stamps that is absolutely breathtaking,” said the auctioneer’s founder Jeffrey Schneider.

Organisers said the auction was the biggest stamp sale in Hong Kong, which has emerged as the world’s third-largest auction centre, after New York and London, thanks in large part to China’s rapidly growing number of millionaires.

Mainland Chinese are regular buyers of the top lots at sales of art, jewellery and wine. Hong Kong has positioned itself as a wine hub for Asia as well as the gateway to China’s vast market.