PetroChina became the first Asian company to surpass a $1 trillion market capitalization in 2007.
PetroChina’s shares surged on their first trading day in Shanghai in November 2007, briefly giving the company a market value above $1 trillion. The dramatic rise made it the world’s second-largest company by market capitalization at that moment, behind ExxonMobil in commonly cited rankings.
PetroChina is the publicly listed arm of China National Petroleum Corporation, one of China’s major state-owned energy groups. Its activities include oil and gas exploration, production, refining, transport, and sales.
The milestone was short-lived because the share price fell substantially after the initial surge. It is also distinct from later trillion-dollar milestones by U.S. technology companies: PetroChina’s achievement occurred on the Shanghai Stock Exchange and was driven by a highly volatile debut.