Because actual survey points are exported to the shape file, the database file contains a record for each point that includes the point label, northing, easting, elevation and description of the point. The maximum length of a point label written to the database file is 20 characters. The maximum length for a point description is 40 characters.
See Exporting Drawings as Shape Files.
Using Shape Files
What Shapes Are Supported
Exporting Point Shapes
Exporting Traverse Shapes
Importing Shapes into a Survey
Importing Shapes into a Drawing
Shape Export Settings