The flower market in Taicang is flourishing as Spring Festival approaches. Many florists have been preparing for the upcoming New Year, providing a variety of flowers, such as butterfly orchids, cymbidiums, azaleas and winter jasmines.

The prices of flower baskets and bouquets, however, have dramatically increased compared with the previous year, ranging from 100 yuan ($16.40) to 600 yuan.

"The price of roses has risen from 4 yuan each since last year to at least 8 yuan each, hitting a record high," said a flower shop owner. Lilies, tulips and carnations have also spiked in price.

According to a flower wholesaler, Yunnan - the country's largest flower plant base – suffered from frost damage last December, resulting in a poor harvest and increased flower price. He also predicted that the price will remain high until March.

Residents of Taicang have a long history of buying potted flowers to decorate their homes during Spring Festival. Most of them prefer red flowers that symbolize a booming life.

In addition, potted butterfly orchids, cymbidiums, peonies, azaleas and nianju (New Year's potted oranges) are popular plants. Most of these plants are sold out. Their popularity lie in their lower price and longer flowering phase compared with fresh flowers.

More locals prefer to buy butterfly orchids, leading to the boom in sales. The prices range from 200-900 yuan, based on the amount, species, decorations and pots.