Axiom, there are plenty of companies looking for people skilled in programming (php, flash, C and .net) in Shanghai and Beijing, moreso they preferably look for foreigners natively speaking english or well spoken/written english.Most of these companies are either foreign or internationally operating Chinese dot com companies. You can find new ads for recruitment almost daily if you check online, start with echinacities.com for example. But dont expect to find many of these jobs outside of Shanghai or Beijing, atleast i have almost not seen any, but around here there is plenty. I have had several offers since i got here but i have no interest to convert to an Z visa from my long term F visa at this point, besides i have my own business also and have long term plans to establish office here in China.
However, one thing that differs alot in China (and most Asian countries) compared to many western when you apply for a job. Grad papers means ALOT. Even if you are sh*t at what you do. Real work experience and achievements which are often favoured alot higher then grad papers in many western countries might not be here.
Best of luck to u!