Grand Hyatt Shanghai -- nearby hotels?

Will need to go to Shanghai for a conference in September. The conference will be held at the Grand Hyatt Shanghai but the cost of the rooms will simply blow my budget. Are there any hotels which is just a stone's throw away from the Grand Hyatt? I'm talking about walking distance, not a taxi ride away... anyone? Thanks! :)

Does it have to be within walking dostance? Can you take the subway? Teh Grand Hyatt is located in the Jin Mao building, which is right off of Line 2, so anything near a Line 2 station on the Pudong side of the river would be fine.

In terms of walking to the Jin Mao from a cheaper hotel.. I don't think so. What level of comfort/living are you used to? There is no question that you can stay cheaply in ShangHai, at a Chinese overnight, but the question is: would you want to? (to me, it is a question of how strapped for cash you are)
It is hard to explain, but walking to the Jin Mao form anywhere is not that easy.. even from the Pearl Tower or Super Brand Mall, which are seemingly right across the street. The Jin MAo is a huge building with many entrances and sits in the middle of a high traffic volume street.
example: From the Super Brand Mall, I needed to catch a taxi in the rain. They were all full. The best chance I had was to queue up at the Jin Mao for a taxi, where the valets keep order. (they have 2 lines, one for guests and one for non-guests.. if you look western, you can go to the guest line)
It took me 4 minnutes to walk to the Jin Mao, but another 8 or 9 to get around the building and cross all of hte pedestrains sidewalks to get to the hotel entrance. and if you stand at the Super Brand, you feel like you could jump across the street and touch it!
If you can somehow afford the Hyatt, it really is worth it. The Hyatt starts at the 54th floor of the Jin Mao and has some of the cities best restaurants. At least go to the Hyatt gift shop and buy the chocolate version of the Jin Mao tower. (cool gift)

Most businessmen saving money stay at hte Holiday Inn in Pudong. It is right across from the entrance to the St Regis, which might be depressing because you aren't staying there, so try not to look. The holiday Inn is a short walk to the Shiji Avenue Stop on line 2, only 1 stop away from teh Jin MAo. Or why not take a taxi.. so cheap!!! Just a few dollars to the Jin Mao from teh H.I. and the H.I. staff will hail the cab for you and make sure you get where you are going.
Also, the H.I. will give you a hotel card. When you come out of hte Jin MAo, you can give that card to the Jin MAo valet and he will tell the cab driver where to take you.