Three central state-owned enterprises...>

CHINA PRESS: Three central state-owned enterprises have said they would

establish or expand corporate treasury centers in Hong Kong, while 30 others are

considering the option, Norman Chan Tak-lam, chief executive of Hong Kong

Monetary Authority, said Monday in an article published on the authority's

website, according to the South China Morning Post. The official said the three

SOEs are: China Huaneng Group; State Power Investment Corporation; and China

Three Gorges Corporation. He attributed their move to a tax rule change last

June, when the Hong Kong government reduced by 50% the profits tax rate for

specified activities of qualified corporate treasury centers,  the newspaper

said. (South China Morning Post)