One proposal being considered at the meeting would change that to "capable for use," which would include machinery that's also used for making less advanced electronic components. A Commerce Department spokesperson said the agency doesn't comment on interagency discussions regarding export control policies. But the department is working to adopt controls that promote U.S. national security and foreign policy interests while not undercutting U.S. technology leadership, the spokesperson added. A spokeswoman for the National Security Council declined to comment. China is "seriously concerned about the relevant reports," Foreign Ministry spokesman Zhao Lijian said Wednesday at a regular press briefing in Beijing. "Certain U.S. politicians have been overstretching the concept of national security, and use science and trade issues as a political tool for ideological purposes," he added. SMIC shares slid 6.4% in Hong Kong to the lowest close in nearly a year. The company's Shanghai-listed stock retreated 1.6%.