Party-speak refers to speech typical of the political party, in this case the Chinese Communist Party. The sense is of a language full of rigid and ritualistic formulations.
[The Arithmetic of Party-Speak][1]:
- The 19th National Congress of the Chinese Communist Party is just around the corner — and that means the machine of political discourse is humming away at high speed.
Here [speak][2] is used as a suffix meaning:
(informal mainly disapproving) used to form nouns to mean the special language used in a particular subject area or business:
- computer-speak
- marketing-speak
(Cambridge Dictionary) [1]: https://medium.com/@cmphku/the-arithmetic-of-party-speak-c52debdd41db [2]: https://dictionary.cambridge.org/dictionary/english/speak