An Internet picture showed a notice from the Public Transit Company at Mohe City, Heilongjiang Province, announcing it would stop its public transit operations due to heavy financial losses. The notice said that it had not been able to make payments on its bus purchase loans, employee salaries, and electric fees on charging poles. Usually public transit companies rely on government funding to subsidize their low fare. The financial problem showed the local government had a severe shortage of money.
After the announcement, the city government contacted the company and settled the issue. The public transit operation did not stop.
Source: Guancha, February 13, 2023
https://www.guancha.cn/economy/2023_02_13_679622.shtml