What you see in this photo is the front cover of a thin but large (8-1/4″ x 11-1/4″) folio.  Open it up to reveal, on the inside left, a small unused postcard from the Guang Zhou Postal Bureau (China Post) under a plastic cover; and, on the inside right, a sheet of eight 80-fen stamps each with se-tenant perforated stub of a different cartoon character.  You can see the card as 20307421B.  Leave it to China to come up with something like this.  Grade: 1