China is expected to achieve an annual production capacity of 5 billion doses of COVID-19 vaccine by the end of next year, with nearly 70 percent of its population vaccinated, said Feng Duojia, president of the China Vaccine Industry Association.

According to Chinese media Caixin, Feng made the remarks on Wednesday during a Peking University seminar on "Coronavirus and the globalization of the vaccine industry."

There is a high possibility that a China's homemade mRNA vaccine will be available by the end of 2020, as many domestic companies are blueprinting for furthering research on booster doses, added Feng.