Inactivated COVID-19 vaccine candidates developed by a Chinese pharmaceutical company are likely to be on the market by the end of December, at a price of less than 1,000 yuan ($144) for two doses.

The marketing review procedure will start after overseas phase three clinical trials have been completed, Liu Jingzhen, chairman of the China National Pharmaceutical Group (Sinopharm), was quoted as saying by media on Tuesday.

The price of the vaccines will not be high after they go onto the market, with every two doses costing less than 1,000 yuan, according to Liu.

Not all 1.4 billion Chinese people need to be vaccinated, Liu said, suggesting that students and those working in cities should take the injections while people who live in rural areas with comparatively smaller populations do not have to.

Two inactivated vaccine candidates developed by institutes under Sinopharm separately in Beijing and Wuhan were delivered into phase three clinical trials in the United Arab Emirates in June.

Liu himself has also been injected with two doses of one of the inactivated candidates. So far, he said he felt "no side effects."

A workshop in Beijing able to produce 120 million doses per year has passed biological safety inspection from the related national authorities and is ready for production. Another workshop of Sinopharm in Wuhan is able to produce 100 million doses per year, Liu noted. 

(People's Daily)