The incident took place yesterday at Anyang city in Henan Province, when there were 33 passengers on the bus.
The city government said among the three victims was a 10 month-old baby girl. The other two victims were boys aged 10 and 18.
Two of the victims died on the way to hospital.
They were among 15 people injured by a mob who used a knife to assault passengers on the bus en route to Beiguo Township, Anyang County, state news agency Xinhua reported.
The authorities have dispatched over 400 policemen to hunt for the suspect.
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