Retrieving Luggage in Beijing

Hi, I am booked to fly from Taipei to London via Beijing on the 9th November. I arrive in Beijing at 22:00 on the 9th but my flight to London is not until 12:00 the next day (10th) necessitating a night stop at a nearby hotel. My question is can I retrieve my luggage for the night or as it is a checked through flight will my luggage be held in the airport overnight.
Also if i'm reading this forum correctly, I can benefit from the 72 hours free transit. Is this correct??

All help greatly appreciated.

Thanks!

Steve