It is truly special to be in China around the time of the Chinese New Year. All around the city there a decorations. Additionally, people of the city visit thier places of worship to pay their respects before the New Year. I saw many people burning effervescents and worshipping in the streets. If you do choose you can even join in yourself for a truly memorable experience. As this is a very busy time of year make sure to make your travel arrangements far ahead of time. The only issue with visiting Shanghai around New Years is the weather as it was very cold when I went.