China's Sinopharm is capable of reaching an annual production capacity of over 1 billion COVID-19 vaccine doses in 2021, Yu Qingming, the company's Chairman and Executive Director said on Wednesday.

By continuing to expand the capacity, Sinopharm can produce 3 billion doses in a year in the future, Yu said.

Sinopharm has also made significant progress in the development of a recombinant protein vaccine and will begin clinical trials, he added.