Torino, however, have no intention of selling the 23-year-old Italy international — who has a €100million release clause for foreign clubs.
"With Belotti we're tied to him until 2021," Cairo told Tuttomercatoweb.
"Then clearly it's very important that he remains happy as I hope he is.
"There's been no contact with Milan, nor Paris Saint-Germain, these are more journalistic stories."
Cairo also dismissed the return of Manchester City goalkeeper Joe Hart, who spent last season on loan at Torino.
The Torino boss, though, refused to rule out a move for PSG keeper Salvatore Sirigu.
"Hart got a year of experience with us, I don't think there's any chance of seeing him in Granata again. It's a closed chapter," Cairo added.
"As for Sirigu, we'll see. I won't talk about players who aren't ours."