Beijing's industrial and commercial authorities have suspended
the license of a company claiming to sell land on the moon for
engagement in speculation and profiteering.
The Beijing Lunar Village Aeronautics Science and Technology Co
Ltd with domestic financing was registered on September 5 but has
now stopped operations, said a source from the Chaoyang District
Branch of Beijing Municipal Administration for Industry and
Commerce over the weekend.
Calling itself the "Lunar Embassy in China," the firm claimed
customers could purchase an acre on the moon for 298 yuan (US$36.8)
through them.
Li Jie, chief executive officer of the company, was quoted in
earlier reports as saying the firm issued customers a certificate
that ensured property ownership including rights to use the land
and minerals up to three kilometers underground.
A Chaoyang branch official said that according to state
regulations, all activities in violation of state laws and
regulations and that disturb social and economic order are regarded
to involve engagement in speculation and profiteering.
The official said further investigation into the case would
continue.
The Chaoyang branch together with local police seized invoices,
permits of ownership of land on the moon, documents, employee files
and more than 10,000 yuan (US$1,234.6) from the business.
Li said that 34 clients had bought 49 acres in the first three
days after his company became operational on October 19 in deals
involving more than 14,000 yuan (US$1,728.4).
He said he would cooperate with the authorities' investigation
and expected to reopen his business when permitted.
The Chaoyang branch found that sale of land on the moon was not
listed as the company's business when it was registered, according
to early reports in the Beijing News.
An earlier report said Li was nominated China agent by Dennis
Hope, a US entrepreneur who founded the first Lunar Embassy in
1980.
(Xinhua News Agency November 8, 2005)