72 hour visa free entry

No, this is not possible because this is a visa free transit and it implies three different, eligible geographical entities to be involved. Your itinerary is just a return trip. However, you should just try to be a bit more imaginative and create an itinerary that will look something like this:

Hong Kong - Beijing - Macau

If you do this, you will be in Beijing in transit and you will be able to explore the wider Beijing area (Beijing, Tianjin and Hebei provinces) absolutely visa free for 144 hours.

Also, this is not a visa, but a visa free transit.