[rebel_yell2]

Less than half of Exxon's earnings but a much larger market cap--that makes sense.

The SHSE is in a bubble like the NASDAQ in 1999 and the Japanese and Taiwanese markets in 1989 (index up from 1,100 less than two years ago to a recent high of 5,800; average P/E close to 100). Those all ended badly with valuations dropping by 80% or more and taking a decade or more to recover.

This one will be no different.

[Alter Kaker]

Less than half of Exxon's earnings but a much larger market cap--that makes sense.

Yes, actually it makes a lot of sense. The Chinese energy market is a duopoly, and assuming China's economy continues to expand at breakneck speed (or really any speed), PetroChina will sell more and more and more oil because they have no real competitors.

Exxon's expansion prospects are limited, which is why XOM has a P/E of only 12.72. PetroChina's expansion prospects are much, much larger.