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WASHINGTON, April 15 (Xinhua) -- Major credit rating agencies' decisions to downgrade the outlook for China's sovereign bonds failed to reflect the reality of China's economy, as the country registered a quite high growth rate of 6.7 percent in the first quarter of the year, China's Finance Minister Lou Jiwei said here Friday.

"China has been as an observer of the SAARC over the years. Since China has made such a rapid progress with such new initiatives like One Belt and One Road, the SAARC countries should invite China as the member of SAARC and collaborate in the promotion of the regional connectivity in the Asia region," he added.

First, we need to conduct international tourism cooperation programs to lend impetus to world economic recovery. The lackluster global growth cries out for new growth drivers. Tourism, which is among the fastest growing and highly resilient of all sectors, plays a vital role in stimulating global economic recovery. According to the World Bank, one dollar of consumption in tourism can generate 3.2 dollars of growth globally. Tourism now contributes to about 10% of global GDP and some 30% of services exports worldwide. It surely stands out as the largest sector in the economic mix. In the next 15 years, the number of international visits worldwide will increase from 1.2 billion to 1.8 billion. For four years in a row, China has topped the global list of outbound travels. Last year, Chinese tourists spent more than US0 billion on overseas trips. To facilitate the development of tourism globally, the Chinese government proposes that international tourism cooperation programs be carried out to foster a more convenient travel environment. Countries are advised to make visa policies easier, streamline entry procedures, open more direct flights, provide more professional and people-oriented services for sightseeing and shopping, and act to protect the rights and interests of consumers.

Expansion of the program is aimed at fostering trailblazers for China's economic restructuring and transformation, according to the statement.

She said outsiders should respect efforts of countries in this region to maintain regional peace and stability.