Some of China's makers of COVID-19 antivirals are fast-tracking neutralizing antibodies and peptide fusion inhibitors in clinical trials, while vaccine developers are embroiled in a tougher situation against the mutating coronavirus.

In a significant policy shift and following recent public unrest, China now appears to be moving away from its strict "COVID Zero" restrictions to salvage a floundering economy hard hit by repeated lockdowns, as part of which it is looking to accelerate the approval of new vaccines and increase vaccination rates in the elderly.

China has cleared for sale the world's first inhaled vaccine for COVID-19, as China continues to face challenges to its strict "COVID Zero" policies, including a new extended lockdown in a major city, ahead of the upcoming high-stakes National Congress. 

A clutch of Chinese biopharma firms, including I-Mab, Lepu and Clover, are having second thoughts on some of their clinical development programs to conserve cash amid a funding squeeze.