An auspicious flower, the peony is known as the flower of riches and is an emblem of wealth and honor. It symbolizes prosperity, happiness, and peace. Chinese peony paintings are hung in the home for good luck and in the office place for prosperous business.

The peony is often a symbol of feminine beauty. The Chinese tree peony represents the season of Spring (Lotus of Summer, Chrysanthemum of Autumn, Wild Plum of Winter).