A bus operator in a city in central China said it would suspend services due to mounting losses stemming from the pandemic and dwindling subsidies, before rescinding the decision after the government stepped in, highlighting the fiscal headaches of local authorities nationwide.
Caixin
China's struggling bus operators highlight local fiscal woes
Municipal governments suffer from COVID controls, loss of revenue and subsidies
In an announcement on Feb. 23, the company Shangqiu Public Transportation in Henan province said it was suspending operations. Photo: Shangqiu Public Transportation
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