Exhibit 8.1



MTR Corporation Limited

List of
Subsidiaries



|Name of Subsidiaries                                      |  | Jurisdiction ofIncorporation |  | Other Names underwhich such Subsidiarydoes business |  | OwnershipInterest
|--------------------------------------------------------- |  | ---------------------------- |  | --------------------------------------------------- |  | -----------------
|Fasttrack Insurance Ltd.                                  |  | Bermuda                      |  | None                                                |  | 100%             
|                                                          |  |                              | 
|MTR Corporation (C.I.) Limited                            |  | Cayman Islands               |  | None                                                |  | 100%             
|                                                          |  |                              | 
|MTR Engineering Services Limited                          |  | Hong Kong                    |  | None                                                |  | 100%             
|                                                          |  |                              | 
|MTR Property Agency Co. Limited                           |  | Hong Kong                    |  | None                                                |  | 100%             
|                                                          |  |                              | 
|MTR Travel Limited                                        |  | Hong Kong                    |  | None                                                |  | 100%             
|                                                          |  |                              | 
|Octopus Cards Limited                                     |  | Hong Kong                    |  | None                                                |  | 57.4%            
|                                                          |  |                              | 
|MTR Consultancy (Shenzhen) Limited                        |  | Peoples Republic of China   |  | None                                                |  | 100%             
|                                                          |  |                              | 
|MTR Corporation (Singapore) Pte. Ltd.                     |  | Singapore                    |  | None                                                |  | 100%             
|                                                          |  |                              | 
|MTR (Shanghai Consultancy) Company Limited                |  | Hong Kong                    |  | None                                                |  | 100%             
|                                                          |  |                              | 
|MTR (Shanghai Metro Management) Limited                   |  | Hong Kong                    |  | None                                                |  | 100%             
|                                                          |  |                              | 
|MTR (Shanghai Project Management) Limited                 |  | Hong Kong                    |  | None                                                |  | 100%             
|                                                          |  |                              | 
|Shanghai Hong Kong Metro Construction Management Co. Ltd. |  | Peoples Republic of China   |  | None                                                |  | 60%              
|                                                          |  |                              | 
|MTR China Property Limited                                |  | Hong Kong                    |  | None                                                |  | 100%             
|                                                          |  |                              | 
|Shenzhen Donghai Anbo Property Management Co. Ltd.        |  | Peoples Republic of China   |  | None                                                |  | 51%              
|                                                          |  |                              | 
|MTR Finance Lease (001) Limited                           |  | Cayman Islands               |  | None                                                |  | 100%             
|                                                          |  |                              | 
|MTR Telecommunication Company Limited                     |  | Hong Kong                    |  | None                                                |  | 100%             
|                                                          |  |                              | 
|TraxComm Limited                                          |  | Hong Kong                    |  | None                                                |  | 100%             
|                                                          |  |                              | 
|Hong Kong Cable Car Limited                               |  | Hong Kong                    |  | None                                                |  | 100%             
|                                                          |  |                              | 
|Lantau Cable Car Limited                                  |  | Hong Kong                    |  | None                                                |  | 100%             
|                                                          |  |                              | 
|MTR (Estates Management) Limited                          |  | Hong Kong                    |  | None                                                |  | 100%