Foreign Minister Marise Payne has accused China of "economic coercion" after warnings of a consumer backlash against key Australian goods and services over the Morrison government's advocacy of an international inquiry into the coronavirus pandemic.

Relations between Canberra and Beijing have plunged further after the ambassador to Australia, Cheng Jingye, claimed the Chinese public were "dismayed" over the push for an inquiry and could trigger a boycott of Australian universities, tourist operators and exports of beef and wine.