In Beijing, everybody is crazy about the 2008 Olympics and the Fuwa (formerly known as Friendlies, but no longer, because the word might be mistaken for "Friendless" or "Friend Lies").
In Shanghai, everybody is still crazy about the Olympics, but also about the 2010 World Expo that will be in Shanghai. Unfortunately, the mascot for the World Expo is not very cute. I think his name is 海寶, hai bao, "treasure of the sea". He looks a little bit like toothpaste.