Reform and open Policy has brought vital force to Qingdao. In 2007, Qingdao’s import and export business totaled $43.61billion US, over 40 billion dollars for the first time ever, and increase of 19.3% over the previous year. Of that figure, $26.78 billion US is from exports, and increase of 23.7% over the previous year. The city's export percentage for consumer electronic products, ordinary trade and privately owned company are 40.6%, 41.8% and 21.7%, which has a 2.3%, 1.2% and 3% increase respectfully than 2006.