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US and China in all-out race for coronavirus vaccine by autumn

America's Moderna raises hopes with initial result, but Beijing ahead in trials

TOKYO -- The coronavirus competition between the U.S. and China goes beyond developing a vaccine, as both countries aim to accelerate that process to unprecedented speeds in hopes of starting large-scale production by autumn.

U.S.-based Moderna lifted stock prices around the world Monday after it announced promising preliminary results, saying that eight subjects who received the company's vaccine candidate developed a similar or higher level of antibodies compared with recovered patients.

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