PetroChina became the first Chinese company to surpass a US$1 trillion market capitalization during its 2007 Shanghai debut.
The state-controlled oil producer’s newly listed shares rose dramatically on November 5, 2007. At the session’s peak, the implied value of all PetroChina shares exceeded US$1 trillion, although the company did not sustain that level for long.
PetroChina’s achievement occurred during a period of intense enthusiasm for Chinese equities and commodities. Its parent, China National Petroleum Corporation, is one of China’s major state-owned energy groups, giving the listing considerable national and investor attention.
The record describes a brief intraday market value, not a year-end ranking or a permanent valuation. Later Chinese technology companies, including Tencent and Alibaba, also reached enormous market capitalizations, but PetroChina holds this particular first.