PetroChina became the first company to reach a $1 trillion market capitalization during its 2007 Shanghai listing.
PetroChina’s Shanghai debut on November 5, 2007, produced an extraordinary first-day surge. Its share price briefly pushed the company’s calculated market value above $1 trillion, although the valuation quickly fell as the stock declined.
PetroChina is the listed arm of China National Petroleum Corporation and is involved in exploration, production, refining, chemicals, and fuel distribution. Its large offering attracted enormous interest from domestic investors.
This event is sometimes omitted from lists that describe Apple as the first trillion-dollar company. Apple was the first U.S. company to reach $1 trillion, while PetroChina’s brief 2007 valuation came earlier. The distinction depends on whether the question concerns all companies or U.S. companies.