According to Shanghai's Exit and Entry Administration new regulations
International students studying in other cities in China will not be able to apply for a residence permit directly in Shanghai if they didn’t to cancel their study residence permit within 10 days after getting his/her diploma or leaving certificate. They must return to the Exit & Entry Administration where issued to cancel the study residence permits and applies for a stay visa. After the foreigner's work permit in Shanghai has been successfully approved, then he/she can apply for work residence to the Exit and Entry Administration.
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For those of you, who currently hold work visas as investors of your own company, please beware that starting from December of 2018, additional documentation will be required when you apply to renew your working permit. The Labor Bureau (Foreign Experts Administration) has revised its list of documentation required to include the following:
1.List of all employees currently employed by your company
2. Social Security payment receipt for all Chinese employees employed by your company
3. Tax IIT payment receipt for all Foreign employees employed by your company
Corporate VAT (value added tax)and CIT (corporate income tax) payment records
Corporate Document Printout and stamped by the Industrial and Commercial Bureau