How are new element names/characters decided?
4 new elements = 4 new Chinese characters? I also know that 4 new elements = 4 new English words. 

Actually these new elements have no relationship with China:


  113: Nihonium (Nh) is from Nihon, another name of Japan.
  
  115: Moscovium (Mc) comes from the city name Moscow.
  
  117: Tennessine(Ts) comes from Tennessee.
  
  118: Oganesson (Og) comes from Russian physicist Yuri Oganessian
  (1933-).


So how is a new element are named in Chinese? Here's Official standards from 全国科学技术名词审定委员会:


  化学元素的符号是国际通用的，化学元素的命名由于语种的不同，会有较大的差异。化学元素名称的汉译，自晚清开始译入到21世纪的今天，历经了百年，形成了化学元素自有的中文定名原则：
  
  （1)根据尽量少造新字的原则，在元素定名需要造字时，尽量选用已有的古字。
  
  （2）选用或新造汉字应符合国家汉字规范。
  
  （3）符合以形声字为主体的汉字书写特点，以体现元素的性质，发音靠近国际命名。
  
  （4)避免与以前的元素名称同音，避免用多音字。
  
  （5)使用简化字，避免用怪异字，选用笔画少的字。
  
  （6)为了避免歧义，选字应尽量避开生活常用字和已经用做其他行业专用字的汉字。
  
  （7)尽量采用繁简无差别的字，以利于海峡两岸和汉语圈科技术语的统一。


If you want to know more about how CHINESE name of new elements are decided, check out 全国科学技术名词审定委员会 Official Site.

P.S. They are collecting new names of these 4 new elements. If you have good idea, also check out this website to submit your name suggestions.