Exhibit 8.1

MTR Corporation Limited

List of Subsidiaries



|                                                                         |  |                                |  |                                                     |  |                                        |     
|------------------------------------------------------------------------ |  | ------------------------------ |  | --------------------------------------------------- |  | -------------------------------------- | ----
|Name of Subsidiaries                                                     |  | Jurisdiction of Incorporation  |  | Other Names underwhich such Subsidiarydoes business |  | The Groupseffective ownershipinterest |     
|Fasttrack Insurance Ltd.                                                 |  | Bermuda                        |  | None                                                |  | 100                                    | %   
|MTR Corporation (C.I.) Limited                                           |  | Cayman Islands                 |  | None                                                |  | 100                                    | %   
|MTR Finance Lease (001) 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                                    | %   
|MTR China Consultancy Company Limited                                    |  | Hong Kong                      |  | None                                                |  | 100                                    | %   
|MTR Consulting (Shenzhen) Co. Ltd. (Incorporated)                        |  | The Peoples Republic of China |  | None                                                |  | 100                                    | %   
|                                                                         |  |                                | 
|MTR Consultancy (Beijing) Co. Ltd. (Incorporated)                        |  | The Peoples Republic of China |  | None                                                |  | 100                                    | %   
|                                                                         |  |                                | 
|MTR (Shanghai Project Management) Limited                                |  | Hong Kong                      |  | None                                                |  | 100                                    | %   
|Shanghai Hong Kong Metro Construction Management Co. Ltd. (Incorporated) |  | The Peoples Republic of China |  | None                                                |  | 60                                     | %(1)
|Candiman Limited                                                         |  | British Virgin Islands         |  | None                                                |  | 100                                    | %   
|MTR Corporation (Shenzhen) Limited (Incorporated)                        |  | The Peoples Republic of China |  | None                                                |  | 100                                    | %(1)
|                                                                         |  |                                | 
|MTR Beijing Line 4 Investment Company Limited                            |  | Hong Kong                      |  | None                                                |  | 100                                    | %   
|MTR China Property Limited                                               |  | Hong Kong                      |  | None                                                |  | 100                                    | %   
|Chongqing Premier Property Management Co. Ltd. (Incorporated)            |  | The Peoples Republic of China |  | None                                                |  | 70                                     | %(1)
|                                                                         |  |                                | 
|MTR (Beijing) Property Services Co. Limited (Incorporated)               |  | The Peoples Republic of China |  | None                                                |  | 100                                    | %   
|                                                                         |  |                                | 
|Glory Goal Limited                                                       |  | Hong Kong                      |  | None                                                |  | 100                                    | %   
|MTR (Beijing) Commercial Facilities Management Co. Ltd. (Incorporated)   |  | The Peoples Republic of China |  | None                                                |  | 100                                    | %(1)
|                                                                         |  |                                | 
|MTR Telecommunication Company Limited                                    |  | Hong Kong                      |  | None                                                |  | 100                                    | %   
|TraxComm Limited                                                         |  | Hong Kong                      |  | None                                                |  | 100                                    | %   
|Rail Sourcing Solutions (International) Limited                          |  | Hong Kong                      |  | None                                                |  | 100                                    | %   
|Rail Sourcing Solutions (UK) Limited                                     |  | United Kingdom                 |  | None                                                |  | 100                                    | %(1)
|MTR Corporation (UK) Limited                                             |  | United Kingdom                 |  | None                                                |  | 100                                    | %   
|MTR Corporation (IKF) Limited                                            |  | United Kingdom                 |  | None                                                |  | 100                                    | %(1)
|MTR Corporation (No. 2) Limited                                          |  | United Kingdom                 |  | None                                                |  | 100                                    | %(1)
|MTR Corporation (SWT) Limited                                            |  | United Kingdom                 |  | None                                                |  | 100                                    | %(1)
|MTR Corporation (Silverlink) Limited                                     |  | United Kingdom                 |  | None                                                |  | 100                                    | %(1)
|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                                    | %   
|MTR (Shanghai Metro Management) Limited                                  |  | Hong Kong                      |  | None                                                |  | 100                                    | %   
|Octopus Holdings Limited                                                 |  | Hong Kong                      |  | None                                                |  | 57.4                                   | %   
|Octopus Cards Limited                                                    |  | Hong Kong                      |  | None                                                |  | 57.4                                   | %(1)
|Octopus Knowledge Limited                                                |  | Hong Kong                      |  | None                                                |  | 57.4                                   | %(1)



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|                            |  |                               |  |                                                      |  |                                        |     
|--------------------------- |  | ----------------------------- |  | ---------------------------------------------------- |  | -------------------------------------- | ----
|Name of Subsidiaries        |  | Jurisdiction of Incorporation |  | Other Names underwhich such Subsidiary does business |  | The Groupseffective ownershipinterest |     
|Octopus Netherlands Limited |  | Hong Kong                     |  | None                                                 |  | 57.4                                   | %(1)
|Octopus Cards (NL) B.V.     |  | Netherlands                   |  | None                                                 |  | 57.4                                   | %(1)
|Octopus Connect Limited     |  | Hong Kong                     |  | None                                                 |  | 57.4                                   | %(1)
|Octopus Rewards Limited     |  | Hong Kong                     |  | None                                                 |  | 57.4                                   | %(1)
|Octopus Investments Limited |  | Hong Kong                     |  | None                                                 |  | 57.4                                   | %(1)

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|(1) | Ownership interest held by subsidiaries.
|--- | ----------------------------------------