The Jinmao Tower (which also houses the Grand Hyatt on the 54th to 87th floors) is a couple of mins walk from exit no.5 of Lujiazui stop on metro line 2 (green). Look on http://www.exploreshanghai.com/metro/ for an interactive map of Shanghai's metro.

Look for somewhere within comfortable walking distance of a metro stop on line 2. Jing'an Temple would be ideal, but property prices there are sky-high. Zhongshan Park would also be a good choice.

Also, how long do you plan to stay for? Most landlords prefer to rent for at least 6 months, if not a year. It's not really easy looking for an apartment for only a couple of months.

You might want to try looking on Craigslist Shanghai, AsiaXpat Shanghai or ShanghaiExpat for expats/students who're leaving for summer vacation and would like to sublet their place for the meantime.

$600 a month is very good leasing rate. Keep in mind, the average income in the city is probably below this amount. If you are a Caucasian, you would find you quite welcome within chinese girls. Anyway, Caucasian are considered the second best tenants right behind japanese, althought with more and more white trash, the reputaion is not as good as it used to be.

600 USD/month for rent certainly is quite a nice sum, but still, taking into consideration location and length of rental it might not be easy to find the most suitable place.