Date: 2013-07-31

XAB Become First Batch National Major Exporter

XAB Become First Batch National Major Exporter


August 10, Bureau of Commerce of Xiangfan City announced that Xiangyang Automobile Bearing Co.,Ltd(XAB) has been listed in the just released first batch National Automobile and Parts Major Exporters.

According to Bureau of Commerce and National Development and Reform Commission, Major Exporters have to meet at least three requirements: annual export value over USD5 million; self-owned intellectual property right; more international competitiveness.

During the selection, there were only 8 enterprises in Hubei province being nominated. With great potential, auto and spare parts products will become the major source of Xiangfan's export in future. In first-half 2006, auto and spare parts export value of Xiangfan city has amounted USD26.66 million, accounting for more than 80 percent of their total export.

It is reported that after being the Major Exporter, XAB are expected to enjoy more preferential policies on industrial development. Also, central and local government will be more supportive of them in aspect of technological research, finance etc.

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