In a bid to cash in on renewed interest in space travel, a U.S. company opens operations in China to sell land on the moon for 289 yuan or 37 dollars an acre.

Lunar Embassy has began operations in Beijing Wednesday. Li Jie, agent for the company in China, says it will issue customers a "certificate" that ensures property ownership, including rights to use the land and minerals up to three kilometers, (roughly two miles), underground.

He adds, "We define it as a kind of novelty gift with the potential of unlimited increase in value."

U.S. entrepreneur Dennis Hope set up Lunar Embassy in 1980, 11 years after the Apollo II mission landed on the moon.

Hope claims he has 3.5 million customers, including politicians and movie stars, who have bought land on the moon.

China is the eighth country to have a Lunar Embassy, others include Germany, Britain, Ireland, Australia, New Zealand and Japan.