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CNBG, which is producing one of China’s top coronavirus vaccine candidates, has said the antidote has shown positive results in the latest test conducted on volunteers.

The potential vaccine, dubbed BBIBP-CorV, is being developed by the Beijing Institute of Biological Products, a subsidiary of China National Biotec Group (CNBG).

The BBIBP-CorV vaccine is one of the top 10 coronavirus vaccine projects in the world that have entered Phase III clinical trials. Three of China’s vaccine candidates are in Phase III trials, according to World Health Organisation.

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It did not cause any severe side effects, while common mild or moderate adverse reactions included fever and pain in injections sites, according to a paper published on Thursday in medical journal the Lancet.

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Meanwhile the International Monetary Fund(IMF) Managing Director Kristalina Georgieva has said that international cooperation on a coronavirus vaccine could boost the global economy by $9 trillion to pull it out of the economic crisis by 2025.

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She emphasized the need for coronavirus vaccines to be distributed evenly across the world in both developing countries and wealthy nations, to boost confidence in travel, investment, trade and other activities.

She also asked United States and China to keep up strong stimulus that could help boost a global recovery.