PetroChina became the first company to debut with a market capitalization above $1 trillion in 2007.
PetroChina’s Shanghai listing in November 2007 opened at a level that briefly gave the company a valuation exceeding $1 trillion. The event occurred during a period of intense enthusiasm in China’s stock market, and the opening valuation was much higher than the company’s valuation in its Hong Kong listing.
PetroChina is the publicly traded arm of China National Petroleum Corporation, one of China’s major state-owned energy groups. Its activities include exploration, production, refining, chemicals, pipeline transport, and fuel sales.
The milestone is sometimes confused with Alibaba’s record-setting 2014 U.S. IPO. Alibaba raised more money in that offering, but PetroChina’s 2007 debut is the commonly cited first public-market opening above the trillion-dollar valuation mark.