On August 6th, the Shanghai Composite Index hit a new annual closing high. Meanwhile, Agricultural Bank of China (601288.SH) rose 1.22% to close at 6.62 yuan per share, with a total market capitalization of 2.11 trillion yuan, reaching another historic peak.
This marks the first time in Agricultural Bank of China’s history that it has topped the A-share market capitalization ranking, surpassing Industrial and Commercial Bank of China to become the new leader in A-share market value.
Besides Agricultural Bank of China, five other stocks have an A-share market capitalization exceeding 1 trillion yuan: Industrial and Commercial Bank of China, Kweichow Moutai, PetroChina, Bank of China, and Contemporary Amperex Technology Co. Limited (CATL).
Notably, seven of the top 20 companies by A-share market capitalization are bank stocks.
Shanghai Composite Index
The **Shanghai Composite Index (SSE Composite)** is a stock market index that tracks the performance of all publicly traded A-shares and B-shares on the Shanghai Stock Exchange (SSE). Launched in 1991, it reflects China’s economic growth and market trends, serving as a key indicator of the country’s financial health. The index has experienced significant volatility over the years, influenced by government policies, global markets, and domestic economic shifts.
Agricultural Bank of China
The Agricultural Bank of China (ABC), founded in 1951, is one of China’s “Big Four” state-owned commercial banks. Initially established to support rural and agricultural development, it has since expanded into a comprehensive financial institution with a global presence. ABC plays a key role in China’s economic growth, particularly in financing agricultural and rural projects.
Industrial and Commercial Bank of China
The **Industrial and Commercial Bank of China (ICBC)** is the largest bank in the world by total assets and one of China’s “Big Four” state-owned commercial banks. Established in 1984, it was originally a specialized bank for industrial and commercial credit before evolving into a publicly traded multinational financial institution. Today, ICBC plays a key role in China’s economy, offering services in corporate banking, personal banking, and global financial markets.
Kweichow Moutai
Kweichow Moutai (Guizhou Maotai) is a renowned Chinese liquor (baijiu) produced in the town of Maotai, Guizhou Province, with a history dating back over 800 years to the Song Dynasty. It is famous for its distinctive aroma and flavor, crafted from fermented sorghum and spring water from the Chishui River. Moutai holds cultural significance as China’s “national liquor,” often served at state banquets and diplomatic events.
PetroChina
PetroChina, officially known as PetroChina Company Limited, is one of the largest state-owned oil and gas companies in China, established in 1999 as part of the restructuring of the China National Petroleum Corporation (CNPC). It is involved in exploration, refining, and distribution of petroleum and petrochemical products, playing a key role in China’s energy sector. The company is listed on stock exchanges in Hong Kong, New York, and Shanghai, reflecting its global significance in the energy industry.
Bank of China
The Bank of China (BOC), founded in 1912, is one of China’s oldest and largest state-owned commercial banks. It played a key role in modernizing China’s financial system and supporting economic development. Today, it operates globally, with its iconic headquarters in Hong Kong, designed by architect I. M. Pei, symbolizing its blend of tradition and modernity.
Contemporary Amperex Technology Co. Limited
Contemporary Amperex Technology Co. Limited (CATL) is a leading Chinese battery manufacturer and global supplier of lithium-ion batteries for electric vehicles and energy storage systems. Founded in 2011 and headquartered in Ningde, Fujian Province, CATL quickly grew to become one of the world’s largest battery producers, partnering with major automakers like Tesla, BMW, and Volkswagen. The company plays a key role in advancing green energy technologies and China’s push toward electric mobility.
A-share market
The A-share market refers to stocks of Chinese companies denominated in yuan (RMB) and traded on mainland China’s stock exchanges, primarily the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE). Established in the early 1990s, the A-share market was initially restricted to domestic investors but has gradually opened to qualified foreign investors through programs like QFII and Stock Connect. It plays a crucial role in China’s financial system, reflecting the country’s economic growth and reform efforts.
