A professor in charge of the project has reportedly taken four doses of the drug without having any side effects.
However, the expert said the product was still 'far from' being sold on the market because it needed to pass animal tests and clinical trials.
The news was announced by Professor Huang Jinhai from the School of Life Sciences at Tianjin University and reported by state newspaper People's Daily.
The immunisation uses food-grade saccharomyces cerevisiae, or baker's yeast, as the carrier and aims at the Spike protein of the virus, Prof. Huang said.
It helps people generate antibodies against the deadly virus.