PetroChina briefly became the world’s most valuable listed company when it debuted on the Shanghai Stock Exchange in 2007.
On November 5, 2007, PetroChina’s Shanghai-listed shares surged on their first trading day, briefly giving the company a market capitalization of more than US$1 trillion. The valuation quickly fell as the initial enthusiasm faded, making the record short-lived.
PetroChina is the listed arm of China National Petroleum Corporation, one of China’s major state-owned energy groups. Its activities include exploration, production, refining, chemicals, marketing, and natural-gas distribution.
The episode is often confused with a claim that PetroChina permanently became the first company worth US$1 trillion. It was an intraday valuation during an exceptional debut, not a sustained market value. Different share classes and listings can also make comparisons between companies less straightforward.