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Reuters
Reuters
Business
By Crispian Balmer

Italy unlikely to renew China deal, but needs time, official says

FILE PHOTO: Then-Italian Prime Minister Giuseppe Conte (L) arrives to attend a welcoming banquet for the Belt and Road Forum hosted by Chinese President Xi Jinping and his wife Peng Liyuan at the Great Hall of the People in Beijing, China, April 26, 2019. REUTERS/Jason Lee/Pool/File Photo

Italy is highly unlikely to renew its Belt and Road Initiative (BRI) deal with China, which expires early next year, but needs time to discuss the issue with Beijing, a senior government official said.

The official, who has knowledge of internal discussions over the matter, said a formal decision would not be made ahead of this month's Group of Seven summit in Japan, adding that it was a highly sensitive topic.

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