The chief executive of Australia’s largest rail company has encouraged growth through free trade with China, while firing 50 staff.

Lance Hockridge, chief executive of rail giant Aurizon, has told a summit of business big-wigs that there are major economic opportunities available through lowering restrictions on trade with China.

The claim echoes the line touted by much of the Liberal Party and Australian business community.

“With an import market of around $10 trillion worth of merchandise in the next five years, and at least $US500 billion in outward Chinese investment expected over the same period, together we have a major opportunity,” Hockridge said in his address to the gathering in Canberra.

“We all know which economy will be the largest in the world, and we also know that Australia has a crucial role to play in that growth.”

“But there is fierce competition for this investment and Australia cannot be complacent.”

Meanwhile, Aurizon will sack around 50 workers from its operations in Queensland, saying redundancies will be offered soon.

The Queensland Rail Union representative Les Moffitt says 21 people working at Aurizon’s Townsville national operations service centre have been made redundant.

“There is opportunities for a number of them to go to Brisbane [about 1,400km away] and there is a couple of them considering that,” Mr Moffitt said.

“For the vast majority of the 21, there's very very little options, especially if they don't want to leave Townsville.”

Workers at depots in Charters Towers, Hughenden, Cloncurry and Mount Isa are awaiting their fates.

“The people out there need to know one way or another,” Mr Moffitt said.

“They seem to be telling us very little over the last probably month or so in terms of what the future prospects are for our people out there.

“They've got families and kids who start at school for the school year. People just want to get it over and done with.”