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The Communist Party of China (CPC) is reviving socialism through reforms and innovations, experts noted on Wednesday, which marked the 170th anniversary of the first publication of the Communist Manifesto by Karl Marx and Friedrich Engels.

"The values, ideas, mission, theory, methodology and principles of the Communist Manifesto will always be the origin coordinates," read an article by Li Haiqing, a professor at the Institute of Marxism under the Party School of the Central Committee of CPC.

Socialism with Chinese characteristics will surely encounter new problems and new challenges, "so we need to keep using the principle of the manifesto's basic methodology" as a guide and further push the combination of Marxism and the concrete reality of China's development, said the article published by the Guangming Daily, a CPC-affiliated newspaper, on Wednesday.

Several Party organizations and media outlets have released articles to commemorate the publication of the manifesto. More than 40 scholars of Marxism from various academic institutes including the Chinese Academy of Social Sciences (CASS), Peking University, Tsinghua University, the Party School of the Central Committee of CPC and Renmin University of China attended a seminar held by CASS in Beijing, according to the website of CASS.

"After the Cold War, the influence of socialism has dimmed around the world, and the Western world even considers socialism a failure and its history has come to an end. But due to the success of socialism with Chinese characteristics, socialism has been revived in China," said Song Luzheng, a research fellow of Fudan University's China Institute.

Chinese students have been taught at school that socialism has revived China, transforming it from a poor, weak and underdeveloped country to an industrialized, modern, powerful and strong country, Song said.

He added that China is also reviving socialism through innovation and reform.

"In other words, China's practice has provided a viable path to realize socialism," he said.

Chinese President Xi Jinping, also general secretary of the CPC Central Committee, said at the 19th National Congress of the CPC in October 2017 that the culture of socialism with Chinese characteristics "offers a new option for other countries and nations who want to speed up their development while preserving their independence."