The incident occurred as the students were arriving at the Balijie Primary School in Lingwu county of Guilin, a resort city in Guangxi.
A man and a woman were killed on the spot and the injured persons, including 26 students, were taken to a nearby hospital, official media reported. Eleven victims were in serious condition.
Seven other injured were adults who were accompanying students to school or passersby, according to the information department of Guilin City.
Witnesses told Xinhua news agency that a man riding a three-wheeled motorcycle passed the entrance to the school when the blast took place.
An eyewitness saw a body lying at the site, which was cordoned off by local police.
"First, the motorcycle caught fire and then exploded with a tremendous noise that could be heard from far, far away," a witness told Xinhua.
A dozen motorcycles were scattered around the blast site and the window panes of cars and stores by the school were damaged.
Safety inspections will be conducted across the city of Guilin for illegal explosives, said a city government statement.
Guilin, a popular tourist city in Guangxi, is famous for its karst scenery.
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