I want to visit my friends who is studying in Beijing since last year. their school is in east 3rd ring road area (in Xisanhuan Beilu, Haidan District) or near by Shangri-La Hotel. I am planning to stay for 3weeks and I really need to find lowbudget accomodation. Anyone can help. Thank You..
Check out some of the youth hostels. They have dorm rooms for around 40 rmb a night.
I would definitely recommend the Leo Hostel, just down the road from Ti'anamen Square. If you stay there, make sure it's Leo 1 as I heard afterwards there were two. The Red lantern is also a great hostel. Not sure how either of these work out in terms of location for you but hostelworld was a great resource for me when booking accommodation in China.
Best of luck,