PetroChina became the first company to briefly reach a $1 trillion market value during China’s 2007 stock-market boom.
PetroChina’s Shanghai listing in November 2007 produced an extraordinary first-day surge. At its intraday peak, the company’s implied market capitalization exceeded $1 trillion, although the valuation quickly fell as the market price retreated. The episode is therefore usually described as a brief or temporary milestone.
PetroChina is the listed arm of China National Petroleum Corporation, one of China’s major state-owned energy groups. Its business includes oil and gas exploration, production, refining, chemicals, and fuel distribution.
This event is often confused with Apple’s later milestone. Apple was the first U.S. company to close above $1 trillion in 2018, while PetroChina reached the figure earlier on an intraday basis. Market capitalization is calculated by multiplying the share price by shares outstanding, so a sudden listing surge can create a very large implied value.