His features look more Chinese to me.

looks more like from mainland China. I think some Japanese people usually look more mixed-looking with rounder eyes and hooked noses. 

Li is a Chinese name.  He was born in Hong Kong, raised in Canada, I believe.

Li Lianjie (courtesy name Yangzhong;  born 26 April 1963), better known by his stage name Jet Li, is a Chinese film actor, film producer, martial artist, and retired Wushu champion.  He is a naturalized Singaporean citizen. 

source: wikipedia.org/zh-hant