China's women's hockey team will play for a first ever Olympic gold medal after a shock 3-2 shoot-out victory against Belgium on Wednesday, following a 1-1 draw in regulation time.

The national team, whose only previous medal at the Olympics came on home astroturf in 2008, looked bound for the final for much of the game, with Zou Meirong putting them ahead from a penalty corner in the 18th minute.

The Belgians, who had beaten China at the group stage, put the pressure on and finally equalised a minute before the end of regulation though Emma Puvrez from another penalty corner.

Drama was to follow in the shoot-out ... in which five players are given eight seconds to run at goal and attempt to score.

Chen Yang saw her attempt saved, allowing the Belgians to take an early lead, but three saves by goalkeeper Ye Jiao gave China victory.

China, who finished only fourth in their group, had already stunned Australia with a 3-2 victory in the quarter final. They'll take on the Netherlands, another giant of the sport, in the final at 2am on Saturday, Hong Kong time.

The Netherlands beat China 3-0 in group play, where China had also lost to the Belgians.