PetroChina was the first Chinese company to debut on a stock exchange with a market capitalization above $1 trillion.
PetroChina reached the extraordinary valuation on its Shanghai Stock Exchange debut in November 2007. Its A-share price rose dramatically on the first day of trading, briefly making the company the world’s most valuable by market capitalization.
PetroChina is the publicly traded arm of China National Petroleum Corporation, one of China’s major state-owned energy groups. Its business includes oil and gas exploration, production, refining, and distribution.
The episode is often confused with a sustained valuation record. PetroChina’s market value fell sharply after the debut, so its brief ranking did not represent a long period as the world’s largest company. It also differs from the company’s earlier listing in Hong Kong and New York.