Agreements on promoting culture and people-to-people contacts are expected to be signed.
Besides welcoming Singh at the Great Hall of the People overlooking the historic Tiananmen Square, Li will hold talks with him on a host of issues.
Later, they will jointly address business leaders attending the second India-China CEO Forum being held on the sidelines of Singh's visit.
Ten top Indian industrialists, headed by Reliance Anil Dhirubai Ambani Group chief Anil Ambani, and prominent Chinese industrialists will be part of the business meet.