Ding, the No. 1 seed, and the second-seeded Li both won twice Tuesday to get to the finals.
In the semifinals, Ding defeated Feng Tianwei of Singapore while Li disposed of Japan's Kasumi Ishikawa. The championship match will be held Wednesday after Feng and Ishikawa play for the bronze medal.
There were two rounds of action in the men's tournament Tuesday that set up the quarterfinals.
China has the top seeded players in the men's draw as well with No. 1 seed Zhang Jike set to take on Jiang Tianyi of Hong Kong in the quarterfinals on Wednesday.
Second-seeded Wang Hao will face Seiya Kishikawa of Japan.