China is seeking to launch a new retirement savings program, which is similar to 401k plans in the U.S., The Wall Street Journal reports. The program will safeguard retirement income and enhance the country’s capital markets by attracting long-term investors. Suggestions have been made for the program to ensure listed companies issue dividends for stable revenue. The country may also draw up tax incentives to promote pension and insurance funds to invest in domestic capital markets.

Click here for the story fromThe Wall Street Journal.

Click here for additional coverage from Global Pensions.