Lets start with the negative:
The beds are hard, but they usually are in China.
All service is insanely expensive, such as laundry, massage, breakfast etc.
If the above doesn't bother you this is a great hotel for the price we paid (about 600nok/500rmb/75$ per night for 2 people in one room).
There is a subway stop 10 meters from the entrance linking you to the entire city, there is a grocery store 50 meters away, the bar-area of Sanlitun is in walking distance (!), and so are some of the major clubs (Mix/Vics/the Lantern etc.).
We also like that the hotel was kind enough to store our luggage while we travelled to another country for a week, even though we are staying in a different hotel afterwards. According to the hotel they could do this for up to 6 months.
All in all I have no problem recommending this hotel, and those who say it is old should know that we now live in a top hotel built 5 years ago and it is pretty much exactly the same, but with better beds and a noisy air conditioner (Swisshotel had a great air conditioner).