The collision late Thursday in Yunnan province, near the border with Myanmar, tossed the bus on its side and flipped the cement truck off the road, Xinhua news agency said.
Nine people were killed instantly while another died after being taken to hospital, the report said.
Deadly road accidents are common in China, where traffic regulations are often flouted or go unenforced by police.
There were more than 180,000 traffic accidents in 2015, causing 58,000 deaths, authorities said in December.
The country's frequently overcrowded long-distance buses are particularly prone to high fatalities.
In November, a pile-up on an expressway in the northern province of Shanxi killed 17 people and damaged 56 vehicles.
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