The dragon in abstract form, made of stainless steel with a pounamu pearl on its tongue, was given to the New Zealand Olympic team at the launch of the team uniforms earlier this month and is touring the country before it joins the team in Beijing.
The $50,000 sculpture was designed by New Zealand Chinese artist Guy Ngan, of Wellington, and was made using money raised mainly from the New Zealand-born Chinese community.
In Beijing, the sculpture will be located outside the team's quarters during the Olympic Games.
After the Games, the New Zealand Olympic Committee will present the sculpture to the Beijing Olympic Organisation to go on permanent display at its new building.
Sheet-metal engineer Wayne Blythen, who worked on the sculpture, told the New Zealand Herald it took six weeks and more than 200 man-hours to put it together.
The sculpture is on a 1000kg black-granite base, imported from China, and is engraved with the words "in recognition of the enduring friendship between China and New Zealand" in English and Chinese.
Project manager Auckland architect Ron Sang said the dragon was a perfect symbol for China.
"But we didn't want to give them a sculpture of a real dragon because they have plenty of those.
"That is why we decided to have a modern, abstract dragon, one that's uniquely New Zealand, and having the greenstone is our way of including the Maori people in our gift."
Beijing chef de mission Dave Currie said the dragon was a symbol representing not only the people of China, but the strength of the New Zealand Olympic team and its respect for China as the host of the Games.
"As we represent New Zealand overseas, it is important we acknowledge the contribution Chinese immigrants have made to the development of New Zealand and the respect we have for the Chinese people."
The sculpture will be exhibited at the Auckland, Wellington and Dunedin airports until it goes to Beijing in July.
It will be in Dunedin until Friday.