Barty (R) celebrates her maiden grand slam title earlier this year, the 2018 US Open women's doubles which she won with CoCo Vandeweghe.
Wang looked well-positioned to get back into the match but couldn't fashion a break against Barty and ultimately paid for her missed chances in the seventh game.
"I just relaxed very well, there's no pressure", Wang said.
The Australian grew into the semi-final against Germany's Goerges, seeded fifth, and dominated the third set to book her place in Sunday's final.
In the first semifinal of last year's tournament champion Julia Gorges in three sets lost to the world No. 19 Ashleigh Barty (6:4, 3:6, 2:6).
Serena opted to end her 2018 season two weeks ago, allowing players like Barty to overtake her. Additionally, she reaches the career-high ranking and an all-important top-16 seeding at 2019 Australian Open.
Goerges, who celebrated her 30th birthday on Friday, dropped two service games in the deciding set as her 22-year-old opponent motored to victory. It has been a great finish (to the season) for me in China this week.
A slew of unforced errors handed her opponent the only break of the set and Barty eventually closed out the match on serve with a backhand smash.
"It has been a phenomenal year, it really has".
However, Barty was not aware of her new ranking.
The writing looked to be on the wall when Barty fell a set and a break down, but she demonstrated admirable resilience to force what proved a one-sided decider.
Barty's week had begun with defeat to Aryna Sabalenka in the Orchid Group, but she battled back to beat Caroline Garcia and qualify for the semi-finals.
The 26-year-old booked a spot inside the WTA's Top 20, rising from her current career high of world No. 22.
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