PetroChina became the first publicly traded company valued above $1 trillion in China after its 2007 listing.
When PetroChina began trading on the Shanghai Stock Exchange on November 5, 2007, its shares surged dramatically. The resulting market capitalization briefly rose above $1 trillion, making PetroChina the first Chinese company to reach that headline valuation.
PetroChina is controlled by China National Petroleum Corporation and operates across the petroleum industry. Its business includes exploration, crude-oil production, natural-gas operations, refining, fuel sales, and transportation infrastructure.
The milestone should not be confused with company revenue or the value of China’s entire oil industry. It represented the market’s valuation of PetroChina’s outstanding shares at a particular share price. The stock’s later decline showed how an opening-day valuation can differ from a long-term market assessment.