Agree you'll find better value and service in Thailand or the Philippines, but since that wasn't your question:

• JW Marriott Anji. Close to Shanghai. Close to activities like rafting (though in Anji it's more like a theme park ride, but still fun). Downside is that it's a resort so doesn't have a lounge
• Hyatt at the foot of the Great Wall. These range from rooms to whole villas. Very nice environment, and can hike to the Great Wall (I've written a review, should be in the Hyatt section)
• Various Hainan Marriotts. These range from lower mid-tier (Four Points Wanning) to mid-tier (Sheraton Sanya) to Luxury (St. Regis / Ritz) so you have your pick. Again, these are resorts so no lounge and generally no upgrades (I got upgraded to a huge ocean-front suite though at the Four Points, on a 6-night stay no less!)
• If you like skiing, the Hyatt Regency at Changbaishan is quite nice. Worth it to use points to book a suite. The lounge is quite nice too