This might be the best hostel in Shanghai. It has a great location, great atmosphere, it's friendly, clean and has a friendly staff. There is a bar, a restaurant, a ballroom, a fountain with water and fish, two free computers and Wifi.
It is a spectacular place, if you're traveling in Shanghai.
It's 1 minute from People's Square.
Remember, if you have a Hosteling International discount card, the price for a 6 people dorm room is about 6 euros per bed.
You have a buffet breakfast for 2 and a half euros, with sandwiches, fruit, juice, coffee or tea.