China's Finance Minister Lou Jiwei has expressed disapproval over major credit rating agencies' downgrade of China's sovereign bonds outlook. He said the downgrade failed to reflect the reality of China's economy.

Lou added the economic growth rate of 6.7 percent in the first quarter of this year has met the government's target of 6.5 to 7 percent.

The minister made the remarks on Friday at a press conference after the G20 Finance Ministers and Central Bank Governors Meeting in Washington.