Here is my Shanghai watch acquired in an antic market in Beijing few years and lost almost immediately by my girlfriend at her parent's home. I'm not sure collectors have much interest in vintage chinese watches but I give a try to see if people here have interesting things to show.
Design is quite basic, probably inspired by Seiko's watches of the same period, quality seems good and it looks nice on the wrist.

Movement is a SS1 made in June 1971 according to a table I could find online.
From what I could gather, Shanghai watch factory started with copies of A-S movement (1187) but I'm not sure if this one derived from those early copies or if it is an original local design.

 

Sure looks like AS. Either 1187 or 1194. But not an exact copy if you compare it to this image from the Ranfft archive.

http://www.ranfft.de/cgi-bin/bidfun-db.cgi?10&ranfft&2&2uswk&AS_1194

 

I have a rare dark green dial. It is almost black but when light hits the dial at the right angle, it’s olive green.