The Leicester City striker headed home three minutes from time at the Nanchang Bayi Stadium after Wu Lei had given the hosts the lead with a superb strike shortly before the interval.
New Zealand had the better of the early stages, with Marco Rojas having a shot saved 16 minutes in, before teenage defender Bill Tuiloma struck the post with a header from 12 yards from Michael McGlinchey's free-kick.
However, it was Wu who broke the deadlock with an excellent half-volley from 25 yards three minutes before half-time.
An even second period ensued with chances few and far between for both sides.
But Wood snatched a deserved draw for New Zealand in the 87th minute, when he nodded in Deklan Wynne's deep cross from the left.
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