Kiauchau was a Grerman leased territory in China from 6th Mar 1905 with the German post beginning 26th Jan 1905. The Bay of Kiauchau is located to the southeast of Beijing (then Peking) on the south coast of Shandong Province (then Shantung). The capital is present day Qingdao, formely named Tsintau (Tsingtau). In 1897 the Chinese government signed a 99 year lease agreement with the German government however the lease ended at the outset of the First World War on 7th Nov 1914.
MICHEL 18 to 27 REGULAR ISSUE IMPERIAL YACHT
From 1st Oct 1905. Denomination in Mexican Dollar currency. Michel 18 to 23 Typography (10x10), Perf: 14 x 14½, Michel 24 to 27 Engraved (4x5) without watermark, Perf: 14½ or 14¼.