PetroChina was the first Chinese company to briefly exceed a $1 trillion market capitalization in 2007.
PetroChina reached the milestone on November 5, 2007, on the day its shares began trading in Shanghai. Its opening price produced a valuation above $1 trillion, briefly making it one of the most valuable companies in the world by market capitalization.
PetroChina is the listed arm of China National Petroleum Corporation and operates across oil and gas exploration, production, refining, pipelines, and sales. The company’s Shanghai listing attracted intense investor demand during a period of strong enthusiasm for Chinese equities and commodities.
The record was short-lived: PetroChina’s share price fell sharply after the initial surge. It is therefore important to distinguish an intraday market value from a stable closing valuation. The event is also sometimes confused with later Chinese technology companies that achieved enormous valuations, but PetroChina’s 2007 debut is the relevant early milestone.