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You didn't state what field of work the offer is for, so its hard to say if the offer is appropriate.RMB 360,000 per year is what someone working in finance.
However, what I can say is that you are quite lucky that you have been made an offer with so many perks. While the Chinese economy weathered the recession as well and comapnies continured to hire expats, cuts have been made and expat employment packages are not as good as they once were. Its quite rare to to get an accommodation allowance and schools fees made for these days.
The accommodation allowance your getting is fairly decent. A 2 bedroom furnished apartment costs around RMB 10,000. School fees will cost at least RMB 12,000 per child.
Check out the Salaries for expats in China page for a more detailed overview.
I think you'll find lots of living options in the MinHang District where your office is based. There are many excellent schools in the area and the standard of accommodation is good and suitable for those with kids.
To read more about other neighbourhoods. Check out the Areas and Suburbs of Shanghai page.
Good luck,
Shantalie :)