The 31-year-old will leapfrog Roger Federer into second in the world when the rankings are released on Monday and is in imperious form as the season reaches its climax.
"Well, to be honest, I'm not sure whether it has happened ever, you know, that I go through a tournament without dropping one service game", Djokovic said.
"Maybe I was Chinese in the past life", said Djokovic, smiling, in explaining impressive record in the country.
"I wasn't - I feel like - playing as well as I'm playing today", he warned.
Three-time Shanghai Open victor Djokovic stormed past German Alexander Zverev 6-2 6-1 in Saturday's earlier semi and claimed the world number two ranking from Federer.
The 14-time Grand Slam champion cruised through the first set before Coric recovered from 3-0 down in the second set to earn a break point at 3-2.
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Media captionCCTV footage shows missing Saudi journalist Jamal Khashoggi entering the Saudi consulate in Istanbul . Turkish officials fear the team killed Khashoggi, who wrote critically of Saudi Crown Prince Mohammed bin Salman.
"I'm just happy with the whole week".
Coric, 21, said that he had no complaints about losing to "one of the best in the history of tennis".
"Serving, I think, it's okay, could be even a little bit better".
Earlier in the day, three-times Shanghai champion Novak Djokovic extended his winning streak to 16 matches after beating South African Kevin Anderson 7-6 (1) 6-3, edging the Serb closer to the world number two ranking.
The 37-year-old Federer was forced to battle through the first two matches of his title defence, first to Daniil Medvedev and then Roberto Bautista Agut. Coric beat Federer in the Halle final in their last meeting earlier this year.
But the Croatian couldn't prevent Djokovic from snatching the title on a fourth match point in the next game.
Coric, who collected one of the biggest wins of his career by defeating Roger Federer in the semi-finals, looked far from his best in his first ATP Masters final as he dropped his serve in the opening game of the second set.