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Articles: News | `Lunar Embassy' sues over license
- Mr. Ravi Kumar Sunkara
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The industrial and commercial watchdog had the company's business license suspended Oct 28 on the ground of speculation and profiteering, a move that has stopped 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 were not in violation of 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 Sept 5 and became operational Oct 19. It claimed that one could buy an acre of land on the moon for 298 yuan ($37) through its service. It issued customers a 'title deed' that ensured property ownership including the rights to use the land and minerals up to three km underground.
An earlier report said 34 clients had bought 49 acres of land on the moon in the first three days of the company's operations. The deals involved more than 14,000 yuan ($1,700).
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