I was in Shanghai on a holiday in September 2012 and the city really looks magnificant especially at night from across the Bund over to the other side where the most modern and majestic sky scrapers sit looking majestically high and truly amazing with their colourful llighting.
Visitors to Shanghai should cross over to Lujiazui on the other side of the river. They can use the Tourist Underground train which is a five-minute awesome ride in a colourful tunnel for which you pay something like 60CNY which is close of Eur8.
But beware that the tunnel and skyscrapers all go out at 22:00 so make sure you plan your return well if you need to cross back to the other side of the river :)
You can catch the underground tourist train Chenyi Square and the entrance to the station is just opposite the Fairmont Peace Hotel
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