21.   Multinational companies often use them to set up foreign subsidiaries or finance acquisitions.

22.   Next, the shareholders of the U.S. corporation exchange their shares for shares in the foreign subsidiary.

23.   Multinational corporations want a change in the way their foreign subsidiaries are taxed in the United States.

24.   Nor has the department decided whether the trade ban should cover trade by foreign subsidiaries of American firms.

25.   One provision would allow financial services companies to defer taxes on income earned by foreign subsidiaries until the income was returned to the U.S.

26.   Rabobank was granted a special license in January to operate as a wholly owned foreign subsidiary, Werneck said.

27.   Surging sales by foreign subsidiaries should rise even further next year as governments demolish remaining barriers in recognition of the benefits of hosting multinationals, the study said.

28.   The bank is also the subject of a German investigation into whether Dresdner top managers systematically advised clients to steer money to foreign subsidiaries to avoid German income taxes.

29.   The China Securities newspaper said today that Chinese companies will be able to set up foreign trading subsidiaries in Pudong.

30.   The city also said it would grant permission for some Chinese companies to set up foreign trading subsidiaries in Pudong.