It’s a CSS child selector. P > SPAN means applying the style that follows to all SPAN tags that are children of a P tag.
Note that “child” means “immediate descendant”, not just any descendant. P SPAN is a descendant selector, applying the style that follows to all SPAN tags that are children of a P tag or recursively children of any other tag that is a child/descendant of a P tag. P > SPAN only applies to SPAN tags that are children of a P tag.