Belief is outweighing scepticism as nations rush to vaccinate. Indonesia has begun shipping in Chinese-produced shots that have not even completed phase 3 clinical trials. Haste is understandable. Infections, while hard to assess in a populous nation with little testing, appear to be spiralling.

The shipment of up to 1.2m doses from an initial order of 40m is a coup for Sinovac. Its CoronaVac jab appears better-suited to hot, developing countries than some western alternatives. That could bolster Chinese influence, while helping to reinvigorate a troubled business.

This is Sino Biopharmaceutical, which has acquired a 15 per cent stake in a subsidiary of Sinovac, to which it was previously unrelated. The deal values Sinovac at more than $3bn — six times its market value last year. Nasdaq subsequently halted trading of Sinovac shares, following a proxy fight.