PetroChina Surpasses ICBC to Claim Second-Largest Onshore Title

Chinese oil giant PetroChina Co. briefly becomes mainland China’s second-largest listed company, with its market value surpassing that of the nation’s top lender, Industrial and Commercial Bank of China Ltd. The oil producer’s market capitalization rose to 1.75 trillion yuan ($242 billion) at the end of trading on Tuesday, reaching about 1.77 trillion yuan at one point. This achievement highlights the significant position held by PetroChina in the onshore stock market.