Learn Spanish (Latin America): Yo hablo chino y español.

Hablo comes from the verb hablar (to speak). To say "I speak" with regular "-ar" verbs, you drop the "-ar" ending and add "-o". This is why hablar becomes hablo.

Do I always have to say yo before hablo?

No, you do not. Because the "-o" ending on hablo already tells us that "I" am doing the action, the pronoun yo is optional. You can just say Hablo chino y español. Including yo just adds a little extra emphasis, like saying "I speak Chinese."

Why aren't chino and español capitalized here?

In English, we always capitalize the names of languages. However, in Spanish, languages and nationalities like chino and español are written in lowercase letters, unless they happen to be the first word in a sentence.

Can español also mean a Spanish person?

Yes! The word español can refer to the Spanish language, or it can describe someone or something from Spain. In this sentence, the verb hablo (I speak) makes it perfectly clear that we are talking about the language.