I'm posting this from Wuxi (about 2 hours west of Shanghai), and like Cramsy says, the speed through the internet greatly depends on your ISP and VPN. At my first apartment, the speeds through the VPN were so bad that it would take 15 seconds to load a page. But, since I've moved to a new apartment with a different ISP, I've found my speed drastically increase, to the point that I can stream video and play blocked mmo's through it.
So just be a bit wary of which ISP to use, and you should have no problems!
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