Rose struck what looked like the killer blow with a birdie on the 14th, but Li responded with a stunning approach to the par-five 15th to set up a tap-in eagle as Rose three-putted from long range for par.
Li looked like having the chance to move in front after an excellent approach to the 16th too, but Rose produced a better one and holed from four feet after the world number 50 missed from twice the distance.
Rose’s advantage was short-lived as he three-putted the 17th and Li appeared to have the upper hand on 18 when he found the green in regulation after Rose’s approach came up short in a greenside bunker.
However, it was Li’s turn to three-putt from long range and Rose was left with a putt for the win after a superb bunker shot, only to miss from four feet.
The players returned to the 18th for sudden-death and after Rose missed from 15 feet for birdie, Li amazingly three-putted from just nine feet to gift his opponent the title.