A senior Kuwaiti official said on Monday that China has pledged to allow the Gulf state’s sovereign wealth fund to trade on the Shanghai Stock Exchange in renminbi, Reuters reported, citing Kuwaiti media. Premier Wen Jiabao also promised to give the Kuwait Investment Authority (KIA) local investor privileges, according to remarks made by KIA head Bader al-Saad on the official Kuwait News Agency. Wen’s pledge came during a meeting with Kuwait’s Emir Sheikh Sabah al-Ahmad al-Sabah in Beijing. “This would give us a strong impetus to enhance and diversify…our investments in one of the most important global economies after we have been able to invest in the Hong Kong bourse in line with Chinese law,” Saad was quoted as saying.