Compositional translation:
虚 ('empty') +
无 ('nothing') +
主义 ('-ism') = 'empty-nothing-ism' = 'nihilism'.
主义 is the Chinese suffix for any '-ism':
共产主义 ('communism'),
资本主义 ('capitalism'). In modern Chinese discourse,
历史虚无主义 ('historical nihilism') is a politically loaded phrase used to criticize revisionist or dismissive readings of officially approved historical narratives.