Can you please help with following itinerary?

Hello,

I'm hoping you can help me with this question as I have tried various sources and got mixed answers. I am traveling to China for the first time in October for a vacation. My planned itinerary is below.

October 18, 2014 Seattle 2:00 PM Beijing 4:55 PM
October 19, 2014 Beijing 9:00 PM Shanghai Hongqiao 10:55 PM

October 20, 2014 Shanghai Hongqiao 2:25 PM Hong Kong 4:15 PM

October 23, 2014 Hong Kong 8:05 PM Shanghai Pudong 10:30 PM

October 26, 2014 Shanghai Pudong 9:20 PM Los Angeles 6:10 PM
October 26, 2014 Los Angeles 8:35 PM Seattle 11:14 PM

When reserving my flights, I attempted to stay within the 72-hour free period for my trip to Shanghai. As you can see above, I am in Shanghai for less than 24 hours as I transit to Hong Kong first and approximately 71 hours from the evening of October 23 until the evening of October 26th. I also took care to depart Shanghai for Hong Kong from the same airport on the first entry and out of the same airport on the second entry.

After speaking with a friend who travels to China often, he was concerned that I may have an issue because the inbound flight has a connection in Beijing and he believed that this would be my "point of entry". I disagreed after reading about the Visa Exemption for direct transit. It states "No visa is required for foreigners who hold tickets to the final destination and have booked seats on international airlines, ships, trains transiting directly through China, and will stay for less than 24 hours and do not leave the specified transit area."