My passport is expiring in September this year. I am an MBA student in Shanghai

Hi, Application for a new passport is required to be submitted at least two months before the date of expiry of the current passport. Following documents are required:
•Application form No. EAP-I.

•Original passport, current passport and additional booklets, if any.

•Four recent coloured (With white back ground) passport size photographs

•Photocopies of the first page, last page and the valid Resident Permit/Visa page

They will return your old passport when you pick-up the new one. As I know, you need to visit Shanghai PSB for transfer of the student X to your new passport.