Two men, both Chinese students aged 18 and 20, will appear in the Auckland District Court today charged with her murder and aggravated robbery.
Ms Li, 18, also known as Kiko, was last seen in the Auckland suburb of Kingsland a fortnight ago.
Last night police found her red 1998 Toyota Altezza car in Hamilton after a member of the public saw a news item about the missing teen on television and called police.
Her body was discovered in its boot, police said today.
It was believed Ms Li was killed on or about May 19, three days before she was reported missing.
The body will be removed from the vehicle today and a post mortem examination will be carried out as soon as possible, not necessarily today.
Ms Li's next of kin have been advised of the overnight developments and family members have made arrangements to travel to New Zealand.
The Hamilton resident who notified police of the car's location last night said it had been in the street for several days.
