The peony is crowned the king of flowers. It is also called flower of riches and honours (fu gui flower) or Loyang flower as it is widely regarded as originated from Loyang. As it flourishes in spring, it is widely considered as a symbol of spring.
The bird in the motif is a chinese bulbul (bai dou [white head] weng [old man]). It is associated with longevity as it has a top of white feathers just like the white hair of an old man.
The phrase fu gui bai tou means riches and honours till a ripe age.