PetroChina became the first public company to exceed a $1 trillion market capitalization in 2007.
PetroChina reached the milestone on November 5, 2007, its first trading day on the Shanghai Stock Exchange. Its shares surged after the listing, briefly giving the state-controlled oil producer a market value above $1 trillion. The company was already listed in Hong Kong and New York, but the Shanghai offering generated intense domestic investor demand.
The episode is often mentioned alongside Apple’s 2018 milestone, although the circumstances were different. PetroChina’s valuation above $1 trillion was brief, and its widely quoted market capitalization was affected by the distinction between tradable shares and the company’s full share count.
PetroChina is the listed subsidiary of China National Petroleum Corporation, one of China’s major energy groups. Its 2007 surge showed how a stock-market listing can produce a spectacular valuation even when the market’s enthusiasm later cools.