Hotels:
->Shanghai: The Westin Shanghai is GREAT
->Beijing: The Peninsula...AMAZING and affordable (with USD)

Airlines:
I would fly Air China between these cities. In fact you could buy 2 C class tickets for 30K UA miles each or 2 Y tix for 15K miles each. If you go at specific times you can get on a 777 or a 747. I would highly reccomend them.

Good luck and have fun.