Police have charged a woman following an alleged assault in a busy CBD street.

Police say two female international students were walking along Elizabeth Street about 5.30pm on Wednesday when they were confronted by a group including two women in their 20s and a male.

The students were told to "go back to China" and were taunted about coronavirus.

The 18 and 20-year-old Melbourne University students responded to the taunt and were then attacked by one of the women from the group

A 21-year-old Melbourne woman has been charged with recklessly cause injury and commit indictable offence while on bail.