Italy has decided to exit China's flagship Belt and Road Initiative when the contract expires next month.

It is the only G7 nation that has joined China’s flagship Belt and Road Initiative.

Italy formally exited the BRI with a letter delivered to Beijing a few days ago, sources told ANSA news agency.

The moves come after Italian Foreign Ministry Secretary General Riccardo Guariglia went on a mission to China in the summer, followed by a visit by Foreign Minister Antonio Tajani, the news agency reported.

The two States' intention to cultivate their strategic partnership was confirmed at the meetings and preparatory steps were taken for President Sergio Mattarella's visit to China next year, the sources said.