I used Hi Inn often years ago and I like how the chain refurbished their hotels. Same great price yet you get a 4 star hotel room minus the large windows.
The location is perfect, right at East Nanjing shopping avenue, near 5m to the Bund. East Nanjing metro station us 3-5m away depends on which exit /entry you use.
The bed was super spacious and comfortable, and everything was clean. There is daily cleaning and they have everything you need from slippers to shower gel.
Ps. : note, the hotel as it is on the 4th floor at the high rise building.
You get a lot on budget yet the rooms won't usually get natural lights.
I think this is one of the best options for comfortable, on budget travel in the heart of Shanghai.
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