To meet the goal, Xiangyang proposes to foster a modernized industrial system with "one leading and seven pillar sectors" (namely auto and auto parts as the leading sector; equipment manufacturing, new energy-powered auto, new energy and material, electronic information, medicine and chemicals, intensive processing of agricultural product as pillar sectors). As of 2016, output from auto and auto parts sector is targeted to reach RMB400 billion; output from intensive processing of agricultural product sector is aimed to exceed RMB200 billion; output from sectors like equipment manufacturing, electronic information, medicine and chemicals will reach RMB100 million respectively; and output from new energy-powered auto, new energy and material will approach to RMB100 billion respectively.
Reforms have been carried out in government authorities like Xiangyang City Economic and Information Technology Committee and Xiangyang City Investment Attraction Bureau, so as to help facilitate the development of industrial system with "one leading and seven pillar sectors". The work mechanism featuring "one sector, one leadership team, one master plan, several funds, and one series of supporting facilities" has been put into practice. As a result, in addition to that for existing auto sector, six regulatory offices and matched investment attraction sub-bureaus have been established for the remaining six sectors. In addition, a RMB1.5 billion worth of fund has been set up to underpin industrial development, by supporting enterprises to reshuffle and expand, relocate and renovate, introduce new projects, etc. Favorable policies and measures also have been stipulated to encourage the cluster development of competitive sectors.
As attracted by the upbeat business environment, China Mobile comes along with four projects (namely, to build a regional network center, regional logistical center, the second call center for mobile service users in the province, and provincial-level enterprise cloud computing center in Xiangyang) with a total investment of RMB10.29 billion.