We were in Beijing in 2002 (not on a Tauck tour). Right around the corner from our hotel (Beijing Hotel on East Changan Avenue) was a well-lit pedestrian mall with upscale stores. Leading off the mall down small alleyways were local shops and stalls. Our guide told us it was perfectly safe to walk around the pedestrian mall, but advised us to stay out of the alleyways. We walked around both during the day, and in the evening with no problem.
We also walked around Beijing without incident. You should know that people will approach you to practice English. If they say they are art students, you will eventually be asked to accompany them to their studio to look at their art. It's probably a good idea to avoid accompanying them unless you want to experience pressure to buy.
Comments
The area is the Wangfujing Pedestrian Shopping Street. There is plenty of additional information on other travel web sites.