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Licence of 'Lunar Embassy' suspended
(China Daily)
Updated: 2005-11-10 05:51
Beijing authorities have suspended the licence of a company, which claimed to
sell land on the moon, for engaging in speculation and profiteering in deals
involving more than 14,000 yuan (US$1,728).
Beijing Lunar Village Aeronautics Science and Technology Co Ltd was
registered on September 5 but has now stopped operation, a source with the
Chaoyang District Administration for Industry and Commerce said over the
weekend.
An administration official said that according to State regulations, all
activities that are in violation of laws and regulations, and disturb social and
economic order are considered to be engaged in speculation and profiteering.
The official said that the Lunar Embassy is suspected of being involved in
such infractions.
Further investigation into the case will continue, the branch official said.
The administration together with local police also seized invoices, "permits"
of ownership of land on the moon, relevant documents, files of employees and
more than 10,000 yuan (US$1,200) 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 opened for business.
The so-called Lunar Embassy in China claimed that anyone could purchase an
acre on the moon for 298 yuan (US$37) through the company. The company, with
domestic financing, started operation on October 19.
The Lunar Embassy issued customers a "certificate" that proclaimed property
ownership, including rights to use the land and minerals up to 3 kilometres
underground, Li was quoted as saying in earlier reports.
Earlier investigations by the Beijing Municipal Administration for Industry
and Commerce and its Chaoyang District branch showed that the Lunar Embassy in
China was registered to do businesses covering space travel, development of the
moon and sales of land on the moon.
(China Daily 11/10/2005 page2)
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