Mr Combet told the forum in Sydney, which included Chinese National Development and Reform Commission vice-president Xie Zhenhua, that by scrapping the tax it would sever Australia’s links with global moves to put a price on emissions.

He said having a carbon price and policies to support it would enable Australia to fully participate in climate change negotiations set for 2015.

"For our international reputation that is crucial," he said.

Australia’s carbon price of $23 per tonne of emissions is scheduled to convert to a floating price linked to Europe’s emissions trading scheme in 2015.

Opposition Leader Tony Abbott has pledged scrap the carbon price if the Coalition wins office, replacing the policy with a "direct action" plan to pay polluters for reducing their emissions.

Mr Combet’s comments came as modelling by research group RepuTex found abolishing the carbon tax would effectively halt investment in the renewable energy sector overnight without other changes to support the industry.

Opposition climate action spokesman Greg Hunt rejected the research as out-of-line with  industry assessments. He said the Coalition supported the 20 per cent renewable energy target.

"In particular, the finding contradicts claims by others in the industry that Australia is on to track easily achieve and potentially exceed the 20 per cent figure. As the industry makes clear, the RET drives renewable energy not the carbon tax," he said.

Mr Combet said Canberra had held talks with California, South Korea and China about linking emissions trading schemes.

He said Labor would not reverse its support for a carbon price even if it lost office at the next election.

China plans to launch pilot carbon markets in five cities and two major provinces, with the first to start in Beijing next month. Mr Combet said the schemes would cover a population 10 times greater than Australia's.

The Chinese pilot scheme will apply to companies emitting at least 10,000 tonnes of carbon annually, less than Australia’s threshold of 25,000 tonnes.

Rather than cap emissions, China aims to cut the energy-intensity of its economic output by between 40-45 per cent by 2020.

At a joint press conference, Mr Combet said any attempt to repeal Australia’s carbon scheme would be environmentally and economically reckless and would damage the country's international standing.

‘‘To pretend that Australia lives in a vacuum, and that we can repeal the most cost-effective way of reducing emissions in our economy, is a complete fantasy,’’ he said.

Mr Hunt dismissed the claim that Australia’s reputation would suffer if it dumped the carbon price.

"The US, Canada, Japan have all walked away from (emissions trading) schemes," he said. "Unfortunately, the government is desperate to pretend that other countries are imposing such massive increases in electricity prices on their citizens."