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China is set to lower the employers'....>

CHINA PRESS
CHINA PRESS: China is set to lower the employers' contribution rate to social
insurance to 16% from Wednesday, Securities Daily reported on Tuesday. The
newspaper cited Wang Qing, chief macroeconomic analyst at credit rating agency
Dongfang Jincheng, who said the move was expected to reduce the financial burden
on enterprises by more than CNY300 billion. The reduction represents a cut of
around 63% after last year's cut of CNY184 billion, the daily said. Wang said
the government may need to transfer more public money to replenish the social
security funds as a result of the unprecedented cut.

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