Shanghai has a pretty good public transportation system, although the subway closes down at 10 p.m. and even the latest buses stop running before 1 a.m. I would recommend taking the subway
As you'll find out shortly after you arrive, Shanghai is far from pedestrian friendly. Although you can walk pretty much anywhere if you really want to, it requires negotiating overpasses, flyovers and frustrating crosswalk barriers. Become a jaywalker: Everyone else in the city is. And don't expect cars, scooters or bicycles to stop for you. Trust me.
I recommend taking the subway to begin with, as it's easy to navigate and in general will take you where you want to go. The bus system is more comprehensive and can often get to you to specific destinations more expediently, but it's tough to figure out for a waiguoren who can't read the Chinese station names at each bus stop (and who wouldn't know where those were, anyway). If you're trying to get somewhere by bus, ask one of the Fudan students. Or just hop on a bus and get lost.
Something to keep in mind: Chinese people are very aggressive when it comes to public transit. And whereas in Canada people wait for the next train if one is full, in China they don't--they push and scramble on until you're convinced there isn't physically room in your subway car for any more humanity, and then someone else gets on. If you're claustrophobic, avoid the subway during rush hour; on the other hand, this is a great way to people-watch and get a handle on Shanghai's millions of commuters.
Better, scrollable subway map here.
