PetroChina briefly became the first publicly traded company valued at more than $1 trillion during its 2007 Shanghai debut.
On November 5, 2007, PetroChina’s shares began trading on the Shanghai Stock Exchange after the company’s initial public offering there. The opening surge gave the company a market capitalization above $1 trillion, although the valuation fell sharply afterward and did not remain at that level.
PetroChina is the listed arm of China National Petroleum Corporation, one of China’s major state-owned energy groups. Its business includes exploration, production, refining, chemicals, and petroleum marketing.
This event is often mixed up with Apple’s better-known 2018 milestone. PetroChina’s valuation exceeded $1 trillion earlier, but only briefly during a volatile debut. Apple is commonly described as the first company to reach and maintain the milestone in a sustained modern market context.