SHANGHAI — Shanghai has registered stellar growth in the city's commercial activities in the first three quarters of this year.

According to data released by the Shanghai Municipal Commission of Commerce, the city's retail sales of consumer goods totaled 1.3 trillion yuan (about $207 billion) in the period, up 19.6 percent year-on-year and 14.1 percent from the level in 2019.

In the first three quarters of this year, Shanghai's import and export value of goods totaled 2.9 trillion yuan, which represented a 15.4 and 17.8-percent growth from the level in 2020 and 2019 respectively.

Forty-seven regional headquarters of foreign-funded multinational companies were set up in Shanghai during the period, bringing the city's total number to 818. Meanwhile, 20 foreign-funded research and development centers were built, raising Shanghai's total to 501.

Addressing a press conference on Oct 29, the Shanghai municipal government said the city's better-than-expected performance in commercial activities helped lay a solid foundation for the upcoming 4th China International Import Expo (CIIE).

Nearly 3,000 businesses from 127 countries and regions are expected to attend the 4th CIIE from Nov 5 to 10 in Shanghai.