I don’t know what it means but it’s on the emblem of the PLA

Wikipedia says this:

The PLA’s insignia consists of a roundel with a red star bearing the two Chinese characters “八一”(literally “eight-one”), referring to the Nanchang uprising which began on 1 August 1927 (first day of the eighth month) and symbolic as the CCP’s founding of the PLA. The inclusion of the two characters (“八一”) is symbolic of the party’s revolutionary history carrying strong emotional connotations of the political power which it shed blood to obtain. The flag of the Chinese People’s Liberation Army is the war flag of the People’s Liberation Army; the layout of the flag has a golden star at the top left corner and “八一” to the right of the star, placed on a red field. Each service branch also has its flags: The top 5⁄8 of the flags is the same as the PLA flag; the bottom 3⁄8 are occupied by the colors of the branches