The paper also reported other observations he made about trading with China.
His apology raises a question about free speech. Should he have felt the need to apologise for expressing an honest opinion?
As a country, do we want top business leaders to feel pressured to apologise for giving honest advice to others?
It is clear, to me at least, that he was commenting on businesses practices not race.
The question is: did Mr van der Heyden, who is to head up the board of Auckland International Airport, come under some pressure to make amends for the statement.
China is New Zealand's fastest growing tourism market and the airport is working hard with other tourism operators to attract more Chinese visitors.
He was expressing a view based on experience. Fonterra had learned the hard way following the Sanlu melamine scandal in 2008 and board members had discussed at length whether to continue producing milk in China.
His comments were also supported by NZ First leader Winston Peters who said China's own premier admitted their country's biggest problem was corruption.
After issuing his apology yesterday, Mr van der Heyden said "China is where New Zealand's future is".
Given the free-trade deal that exists between both countries and China's phenomenal growth, the statement is accurate.
However, we still need to hold true to our democratic principles, free speech being one of them.