From our Literary Review:

A recombinant subunit vaccine has entered the phase three clinical trials via the Institute of Microbiology under the Chinese Academy of Sciences. The co-developer is Anhui Zhifei Longcom Biopharmaceutical Co. Ltd. It had been approved for phase one clinical trials on June 19, 2020 and ended phase two at the end of October, in which 97% of trial participants developed high levels of neutralizing antibodies which is an indicator of immunity to the SARS-COV2 virus

The drug will be a recombinant subunit vaccine under the category of an adjuvanted recombinant protein subunit (RBD-Dimer) vaccine. It uses pieces of the SARS-CoV2 protein components to trigger a protective immune response. This vaccine will be able to induce humoral and a cell mediated immune response which is something that live attenuated and inactivated vaccines cannot do.

Since the vaccine does not contain a live pathogen, there is little risk to the vaccine (Vaccine to Undergo 3rd Phase of Trials, n.d.). On October 22, 2020, it was determined to be generally safe and effective based on data that was gathered from phase one and phase two. Phase 3 clinical trials as of November 20, 2020 in Xiangtan, Hunan Province.