As mentioned by Uday, this is not supported by the standard application. Can you tell where exactly you need to have both languages for the names to be visible? With that information, we understand the requirement better and can then suggest what exactly to do. E.g. do you need both names only on the vendor card, or also on orders and possibly on external documents?
If this is a common requirement in China, you can also check if there is an idea on the ideas portal or create a new one: https://ideas.dynamics.com
There is no standard functionlity to support vendor name translations. Either you can cusotmize and create a new field to store the translated name or you can use any standard field, still you have to change the label though.
Thanks
Uday
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