A 30-year-old man was flown to Waikato Hospital in a serious condition and a second man's body was recovered from the sea.
Police worked with Interpol to identify the pair.
"Waikato police have been ably assisted by a Hamilton-based colleague, a company representative and the Chinese Consulate in Auckland in liaising with the various families to repatriate the bodies of our victims," said Mr Lindstrom.
"To have such a tragedy strike on what is one of our country's most significant festive occasions really brings home the importance of water safety.
Ruapuke Beach is not patrolled by lifeguards.
So far 100 people have died in the water this year, including eight over the holiday period.
"None have died in areas patrolled by lifeguards so the message is pretty clear, swim between the flags," Mr Lindstrom said.