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And despite exports having fallen 7.3 per cent during the same period.

"When the actual dependency ratio of pension insurance gets down to three to one, the payment cannot be lower than 17 percent. If it drops to two to one ratio, it means that everyone is going to pay 25 percent. The financial burden gets heavier when the dependency ratio gets lower. The restructuring of pension system must be finalized in two years." Yang said.

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