Shanghai had registered more than 3 million market entities by December 20, growing 9.2 percent from a year earlier, under the city's continuous efforts in registration reform to spur market entities' vitality, local market regulators announced on Wednesday.

Among the 3.1897 million market entities, 2.674 million are companies, and the number of market entities rose by 9.2 percent from 2020, according to the Shanghai Administration for Market Regulation.

There are now 107.4 businesses per 1,000 persons in the city, ranking No.1 in the nation.