PetroChina became the first Chinese mainland company to exceed a $1 trillion market capitalization in 2007.
PetroChina briefly surpassed a $1 trillion market capitalization on its Shanghai debut on November 5, 2007. The company’s shares rose sharply on the first trading day, creating a headline valuation that was not sustained for long.
PetroChina is the listed arm of China National Petroleum Corporation, one of China’s major state-owned energy groups. Its operations include exploration, crude-oil and natural-gas production, refining, chemicals, pipelines, and fuel distribution.
This event is often discussed with an important qualification: the valuation was based on the Shanghai-listed shares and a market price that surged during trading. Market capitalization can be especially volatile around an initial listing, so a brief peak should not be confused with a stable long-term ranking.