The Chinese Foreign Ministry spokeswoman, Hua Chunying, said in a statement.
China has, thus, become the biggest economy to support the initiative, which has so far been joined by more than 150 countries, according to the UN.
The United States and Russia have refused to join the initiative.
“This is an important measure for China to uphold the concept of a community of human health and fulfil its commitment to promote vaccines as a global public product,” said Hua.
The statement did not go into detail as to what China’s contribution will be.
Chinese President Xi Jinping said earlier a COVID-19 vaccine developed by China would be a global public good.
China currently has four coronavirus vaccine candidates in stage 3 clinical trials.
Edited By: Fatima Sule/Ali Baba-Inuwa