Connecting Flights

I am a Filipino(Ph passport)in Finland with a Schengen visa. I have a flight going to Chongqing from Finland then to Philippines and back the same way. But my flight connection is too long, is it possible to go out without having to get a visa or is it ok to stay long hours/overnight in the airport as well. Thanks!
How about the luggage? When and where will i get it?

flight itinerary is.
HEL-CKG arrives 0710 then CKG-MNL leaving at 1140.

return is
MNL-CKG arrives 2110 then CKG-HEL leaves 0950 (of next day)=12h40min wait.