There is a body of in-vitro research supporting the biological plausibility of CHM as a treatment for COVID-19 and some preliminary but encouraging data   reporting on the clinical effectiveness of CHM in a real world setting.

How COVID-19 is currently treated in China

Diagnosis and Treatment Protocol for Novel Coronavirus Pneumonia in China

Can Chinese Medicine Be Used for Prevention of Corona Virus
Disease 2019 (COVID-19)? A Review of Historical Classics,
Research Evidence and Current Prevention Programs

SHL Formula exerts anti-inflammatory and anti-oxidative activities in lipopoly saccharide-stimulated murine alveolar macrophages

Emodin blocks the SARS coronavirus spike protein and
angiotensin-converting enzyme 2 interaction

The Use of an Herbal Formula by Hospital Care Workers During
the Severe Acute Respiratory Syndrome Epidemic in Hong Kong
to Prevent Severe Acute Respiratory Syndrome Transmission,
Relieve Influenza-Related Symptoms, and Improve Quality of
Life: A Prospective Cohort Study

Clinical Features and Treatment of COVID-19 Patients in Northeast Chongqing

Traditional Chinese Medicine in the Treatment of
Patients Infected with 2019-New Coronavirus
(SARS-CoV-2): A Review and Perspective

Traditional Chinese medicine for treatment of coronavirus disease
2019: a review

Traditional Chinese Medicine: an effective treatment for
2019 novel coronavirus pneumonia (NCP)

In silico screening of Chinese herbal medicines with the potential to
directly inhibit 2019 novel coronavirus