HOME    NEWS    SPECIAL REPORT    PHOTO    COMMENTARY    VOICE
NEWS > Life
Beijing nixes lunar real estate deal
2006-10-21 06:47:11 Shanghai Daily

SHANGHAI, Oct 21 -- LAST October, a Beijing company sold 33 people 48 acres on the moon for 14,304 yuan (US$1,788).

But a district court in Beijing ruled against the business deal yesterday, rejecting the company's request to get back its certificates of ownership of moon real estate confiscated by government business administrators.

The problem, government officials said, was that the company's business license did not authorize it to sell the lunar property.

The Beijing Industrial and Commercial Administrative Bureau confiscated the certificates last October after the Beijing Moon Village Space Technology Co Ltd was found to be selling "lunar land."

The company was registered in September 2005 in Beijing's Chaoyang District. It originally wanted to register as Lunar Embassy, which authorities rejected.

But it promoted itself as Lunar Embassy anyhow.

From October 14 to 28 last year, the company illegally sold the lunar acreage to the 33 buyers. The company said the buyers would own both the land on their plots at the "moon village" as well as mineral resources on the plots three kilometers above and beneath the land.

The bureau confiscated the company's business license, account books, seals, lunar land property licenses and other office property. Officials ultimately returned all materials, except the lunar land papers.

The bureau also held firm against another request in June: To sell "World Cup air" it claimed was processed from soccer fields in Germany.

MORE NEWS
Stanford opens doors to younger applicants  
Hundreds apply to fly commercial airplane  
Empress Wu Buddha-worship Ceremony at Longmen Grottoes  
China-Japan modern art exhibition opens in Beijing  
Chinese Soprano holds solo in U.S.  
Ballet in China ¨CPart 2  
Stars announce new epic in S. Korea  
Experts: teachers' psychological health must be looked after  

SINA English is the English-language destination for news and information about China. Find general information on life, culture and travel in China through our news and special reports£¬or find business partners through our online Business Directory. For investment opportunities with SINA, please click the link "Investor" below.
| About SINA | Investor | Media Kit | Comments or Question? |
Copyright © 1996-2006 SINA Corporation, All Rights Reserved