baggage claim with 72 hour transit visa

We arrive in Guangzhou from Melbourne at 6.00 on the 6th of August and have a connecting flight to Amsterdam at 12.05 on the 7th of August. We would like to stay at Holiday Inn for the duration of our transit. Do we need to claim baggage and go through immigration or can we leave airport with carry on luggage only with the checked in baggage going directly on to connecting flight?