I have shopped in both cities. Based on the recommendation of Jeremy Shepherd I bought a number of things at Ling Ling on Nanjing Road in Shanghai. Good quality, and the prices seemed reasonable. There isn't much bargaining there. A different experience from many other places where you have to play the negotiation game. I remain quite happy with the things I b ought there.
Then when I went to Beijing I shopped at both Ling Ling and at a number of places in the Silk Market. Found the best value and quality at Marie's at the Silk Market, up on the 5th floor. She is Chinese American, returned to China in the past few years. Terrific inventory and a joy to deal with. Prices are fabulous. Also not really any bargaining. I like her so much I have ordered and had her make things up and send them here. The latest is a marvelous copy of a Coco Chanel piece with pearls, gold beads and "diamonds" all separated by lengths of gold chain. She first made me a stunning 22 inch necklace of 11mm mulitcolor metallics and we used the leftovers to make several "tin cup" type necklaces with mixtutes of pearls and semiprecious stones. As I said, a joy to work with, and I can hardly wait until my next trip to create some new things in person. Best of luck to you on your shopping trip, Susanne Cannon