Suzhou Creek (Wusong River) is a good, centrally located spot for running in Shanghai, and good to combine with a run along the Bund. One can run along the main road, heading west from Waibaidu Bridge, with water views a good part of the way. There is a separated pedestrian path on the south side (S. Suzhou Rd.), from the Waibaidu Bridge, heading west to Jiuzi Park, 3.2 km. There are water views for part of the way. The park itself is pleasant and new, with wooden paths, benches and a running track! For variety, run on either side of the river, crossing one of the growing number of bridges that cross the water, some of them still the older, European style bridges.
A good 10k is to run along the less trafficked north side of the water from The Bund to the Chanshou Rd. subway (Jade Buddha Temple is a good landmark). Also in the area near Chanshou Rd. and the Shanghai Railway Station, there is some pleasant running on Yichang Rd. and Moganshan Rd., with some small parks in the area. Tons of hotels around here.
One can also continue west, with some sections of the run pleasant and others less so. A good section is from Zhongshan Park to Hami Rd. in HongQiao (~5k).
There are good hotels near the route. For The Bund, there’s a fancy Hyatt and several other hotels. There’s a also a Marriott and a Four Points Sheraton, near Jiuzi Park.