Economist: China's development will continue despite external challenges

China has reached a point where the country is able to make key technological breakthroughs within three or five years, despite rising restrictions from the US, said a former World Bank chief economist.

"China will not stop developing just because other countries try to restrict it," said Justin Yifu Lin, dean of Peking University's Institute of New Structural Economics, in an interview with China Daily.

The remarks were made as the US has been adding Chinese firms to a so-called entity list, an export blacklist, trying to suppress China's rising technological prowess.

With enough talent and resources, China now can make breakthroughs in innovations quickly. No matter how hard the tech is, the country will go through it if it remains dedicated," he said.

"The restrictions will not hinder the country's goal in realizing high-quality development," he added.