China looks to invest some of its $US1 trillion in Australian resources

China is planning to invest $US1 trillion ($944 billion) in the next five to 10 years, with its eye firmly set on Australia as it looks for greater security of investment.

But while the majority of the investments would be focused on resources, high-level Chinese banking executives speaking at the Boao resources forum in Perth said Australia still needed a clearer path for Chinese investment and that Chinalco's failed $US19.5bn deal with Rio Tinto in 2009 was still fresh in Chinese minds.

Australia's abundant resources, stable political and investment environment and closeness to China were all looked at favourably.

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