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. 

After immuno-oncology, mRNA is fast becoming a hot area in China as a flurry of biotechs from I-Mab to Kangtai partner with a little-known developer.

While global vaccine heavyweights Merck & Co, Sanofi and GSK are so far not faring so well to successfully develop a vaccine for COVID-19, smaller players are stepping up. That's especially true for segmented markets such as China.