My friend and colleague, Professor Lonnie B. Hodge, has written the first in a series on doing business in China (Update 2011: the link I had here does not seem to work anymore).
He is less than complimentary about the books and other guides out there already:
We have bookshelves stacked full of expensive kindling labeled “how to do business in China” that we will later use to heat our house.
What he recommends as an essential pre-requisite for anyone planning to business in China is to learn some language and culture.
He provides a great list of resources, both for learning Chinese and for gaining some cultural understanding – mostly free resources, a post well worth bookmarking.
I think I’d better get cracking and learn to say something a bit more advanced than ni hao .