Moon land 'sales' pie in the sky, suspended
(Xinhua)
Updated: 2005-11-08 09:27

Want to buy a piece of the moon, the Brooklyn Bridge, or ocean-front property in landlocked Arizona?

Beijing industrial and commercial authorities have suspended the license of the company "Lunar Embassy" offering to sell land on the moon, accusing it of speculation and profiteering. [sina]

But the Beijing industrial and commercial authorities have suspended the license of a company offering to sell land on the moon, accusing it of speculation and profiteering.

The beijing Lunar Village Aeronautics Science and Technology Co Ltd, with domestic financing, was registered on September 5 but has now halted operation, said a source with the Chaoyang District branch of the Beijing Municipal Administration for Industry and Commerce over the weekend.

The so-called Lunar Embassy in China claimed that one can purchase an acre on the moon for 298 yuan (US$37) through the company. The company started operation on October 19.

The lunar Embassy issued customers a "certificate" that ensured property ownership, including rights to use the land and minerals up to 3 kilometers underground, Li Jie, chief executive officer of the company, was quoted as saying in earlier reports.

A chaoyang District official said that according to state regulations, all activities that violate state laws and regulations and disturb social and economic order are considered to be engaged in speculation and profiteering.

The branch official said that the Lunar Embassy is suspected of being engaged such infractions.

The chaoyang District branch together with local police also seized invoices, "permits" of ownership of land on the moon, documents, files of employees and more than 10,000 yuan involved in the company's business.

Li jie, CEO of Lunar Embassy, said that 34 clients bought 49 acres of land on the moon in the first three days after his company became operational. The deals involve more than 14,000 yuan.

Li said he would cooperate in the investigation and expected to reopen his business when policies permit.

Investigations showed that the Lunar Embassy in China was registered to do business in space travel, development of the moon and sales of land on the moon.

With a registered capital of 10 million yuan, the company has actually made only 100,000 yuan, a source with the administration was quoted as saying by The Beijing News.

In a different investigation, the Chaoyang District branch found that sale of land on the moon was not listed as the company's business when it was registered.