Pros
I had the opportunity to serve at Shanghai tech for over 2 years. I can honestly say that the amount of support from the staff and the administration for the new researcher is very substantial. Starting as an assistant professor there vs. a school in the USA is a world of difference, where from your startup funds are going to pay for equipment, students, posdocs and even renovations. At shanghaitech the bulk of the costs are carried directly from the school, so the funds you have discretion to use really can go a long way to establish your research program. As a young school, most of the faculty is very young. This is nice in itself, and there is easy way to make new friends and establish healthy colleague relationships. Salary was completely in line with my expectations. All living costs were lower in Shanghai than I expected. Housing support for the professors is very nice....the campus location and upcoming conveniences are awesome.
Cons
Frankly, as a foreigner the only con I found is that china runs in chinese. Although for everything one has to do, that is not an issue thanks to others support, in practice is tiresome to some extend until one starts to learn the system.