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In many-particle spin-half systems with exchange symmetry, we find that the spin squeezing is related to two types of entanglement, the bipartite and the pairwise entanglement. A quantitative relationship is revealed for the spin squeezing parameter, the tangle, and the concurrence. We find that a class of states is spin squeezed if the pairwise entanglement is stronger than the bipartite entanglement.