With surges in the number of people inoculated in recent few weeks in China, the country "is catching up with the developed world" in COVID-19 vaccination rate, media have reported.

People are inoculated with the COVID-19 vaccines at a healthcare center in Honglian Community in Xicheng District of Beijing, capital of China, Jan. 3, 2021. (Xinhua/Zhang Chenlin)

While emerging markets "are lagging" in the vaccination campaign, the developed world is "on track to vaccinate 92 percent of its population this year," Reuters cited data from a global vaccination tracker of Swiss bank UBS in a report on May 14.

If China sustains recent daily rate, "it will inoculate 87 percent of the population by year-end," the report cited UBS analysts as saying.

A total of 406.938 million doses of COVID-19 vaccines have been administered across the Chinese mainland as China steps up the inoculation drive, according to the country's National Health Commission on Monday.