PetroChina becomes world's top-valued company

SHANGHAI (AFP) - PetroChina became the world's largest company by market value Monday, worth about one trillion dollars -- double the value of ExxonMobil -- as its shares surged in their debut on the Chinese mainland.

In terms of earnings, however, PetroChina does not even make it into the top 50 companies of the world, raising a red flag both about the valuation of the firm and the overall sustainability of the Chinese stock boom.

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numbercruncher said:

Now this just cracks me up ....




http://au.news.yahoo.com/071105/19/14ukj.html

Why dont they build some casinos or something for all these peoples excess cash.

Click to expand...

numbercruncher said:

Now this just cracks me up ....




http://au.news.yahoo.com/071105/19/14ukj.html

Why dont they build some casinos or something for all these peoples excess cash.

Click to expand...