A Beijing-based company has been banned from selling plots* of land on the moon, media reported last week.

The company, Lunar Embassy to China, had sold a total of 49 acres (20 hectares) to 34 customers before authorities acted, Xinhua news agency said.

An appeal* court upheld* an earlier ruling* against the firm which had been selling the lunar plots.

In 2005 the company had its business license revoked* and was fined 50,000 yuan (US$6,450) by commerce authorities. It sued but the court ruled against the firm.

On Friday, the Beijing intermediate* court rejected its appeal, saying no individual or country can claim ownership of the moon.

The company had reportedly sold lunar land at a price of 298 yuan an acre, Xinhua news agency said.

China became the third nation to place a man in space, after the former Soviet Union and the United States, when Yang Liwei piloted Shenzhou V on a short mission in October 2003.

Two years later, Shen-zhou VI carried two astronauts into space on a five-day mission.