Luoyang today is an important industrial city. Since 1953, more than a dozen large-size industrial enterprises have been established here; major products are tractors and bearings.
Luoyang is known as the "city of peonies," and the best time to visit it is in late spring when the peonies are in full bloom. It is said that Empress Wu Zetian (624-705) of the Tang Dynasty once decreed that all the flowers in her royal garden in the capital Chang'an (today's Xi'an) were to bloom in deep winter. The flowers, afraid of the power of the Empress, all bloomed, except for the peony. This enraged the empress, who ordered the peony degraded and moved to Luoyang. Since then, the plant flourished here.
from http://www.china.org.cn/english/chuangye/41992.htm