BEIJING, Jan. 14 (Xinhua) -- The strategy adopted by the Communist Party of China (CPC) to build a learning-minded party iskey for success in innovation, which will help the country produce value-added products and advance beyond being the low-cost producer, said Robert Kuhn, an international investment banker and author of a series of books about China.

"Only if China stresses innovation, can China produce the value-added products that will enable China to advance beyond being the low-cost producer," said Kuhn, whose latest "How China's Leaders Think" has been published in Chinese.

He told Xinhua via email on Thursday that innovation would enable Chinese products to capture more of the profit and thus enable workers' wages to increase, which he said would over time help rebalance China's severe economic and social imbalances between rural and urban areas, and inland and coastal regions.

"The more the CPC advances in learning, the more effective China will become as an economic power, which will make China a more formidable competitor in world economic markets."

Kuhn has long been following China's reform and opening-up drive. His latest "How China's Leaders Think" draws on interviews with more than 100 Chinese leaders, providing insightful views on what China's current and future leaders think about economy, media, diplomacy and more.

Recently, he wrote a lengthy commentary titled "China's changing, 'learning-minded' Party", which was run by U.S. Forbes.com, after an interview with Li Yuanchao, head of the Organization Department of the CPC Central Committee, who is also a champion of the learning-minded policy.
                                                                                                   Source: CCTV.com