The head of China’s new $200bn sovereign investment fund on Monday warned western governments against using “national security” as an excuse for protectionism, saying his fund would boycott such countries.

Article 31: If the merger with or acquisition of domestic enterprises by foreign investors or other forms of concentration involving foreign investors concerns national security, in addition to the review of concentration of undertakings in accordance with the provisions of this Law, it shall be examined for national security review in accordance with relevant regulations of the State.