'Lunar Embassy' sues to regain moon land sales
(Xinhua)
Updated: 2005-11-16 08:49

A Chinese company that was forbidden to "sell" land on the moon has filed suit in Beijing to regain its business license.

The shadow advances on the moon during a lunar eclipse in January 2001. A Chinese company has had its license suspended after it tried to make money by selling land on the moon.[AFP/File]

Haidian District Court has accepted the lawsuit lodged by the so-called "Lunar Embassy to China" against Beijing's industrial and commercial watchdog agency, the Beijing Times newspaper reported yesterday. The license was suspended for alleged illegal sales.

Earlier reports say 34 clients bought 49 acres at 298 yuan (US$37) an acre - amounting to 14,000 yuan in the first three days of sales.

Li Jie, chief executive officer of Beijing Lunar Village Aeronautics Science and Technology Co Ltd, requested the court to reverse an earlier ruling by the industrial and commercial authorities. He urged the court to order return of the firm's property that was confiscated, including a business license and "title deeds" that promise ownership of land on the moon.

The industrial and commercial watchdog agency suspended the company's business license on October 28 on grounds of speculation and profiteering. The move halted the company's normal operation and "incurred huge economic losses," said Li.

"They don't have enough evidence to make the ruling," Li said, stressing his business activities do not violate any law. "In fact, there is not a law or regulation in China that prohibits the selling of land on the moon."

Li's company was registered on September 5 and started operations on October 19. It offered to sell one acre on the moon for 298 yuan. It issued "title deeds" for property ownership, including rights to use the land and minerals up to 3 kilometers underground.