The answer is NO! If you come to China with a landing visa or without a visa, you must leave the country before current visa expires and apply a student visa to re-enter.
If you lost your passport in mainland China, please consult the International Students Office immediately about how to get a new passport and visa. Normally you need to do the following procedures:
a. To claim passport lost in local police station;
b. To get the Attest of Enrollment and a letter of presentation in the International Students Office;
c. To register passport lost in the Shanghai Exit-Entry Administration Bureau;
d. To apply a new passport in the Embassy or Consulate of your home country in China;
e. To get visa application documents in the International Students Office after having new passport;
f. To apply new visa in the Shanghai Exit-Entry Administration Bureau.
Please pay special attention that you must apply new visa within one month after you register lost in the Shanghai Exit-Entry Administration Bureau with your new passport.
If your passport is going to expire soon, please contact the Embassy or Consulate of your home country in China to apply a new one and you must get new visa application documents in the International Students Office within 10 days after getting new passport.
Please keep your old passport while applying new visa. If your old passport will be taken by the Embassy or Consulate of your home country, please keep a copy of your old passport information page as well as visa page beforehand.
It is strictly stipulated in China that if you remain in China with an expired visa, the fine range is from 500 RMB per day to 10,000 RMB. If the circumstances are serious, you may be detained or required to leave China.
You must report to the International Students Office immediately once your visa expires and report to the Shanghai Exit-Entry Administration Bureau as well as accepting punishment. You should also apply new visa within required period afterwards.
According to the laws and regulations of exit and entry, if your information changed, such as the reason of residence permit (i.e. changing to working permit), passport number, living address, school, etc., you must get the visa application documents in the International Students Office within 10 day to change visa in the Shanghai Exit-Entry Administration Bureau.