There's an interesting article in Bicycling Magazine about the Flying Pigeon and China's bike culture being replaced by car culture.
For most of the Communist era, the price of a Flying Pigeon was 150 yuan, about two months' salary, with a waiting list that stretched into years. There's a well-known story that a farmer once offered to trade his entire crop to speed up delivery of his Pigeon.
Today, the PA-02 fetches about 240 yuan, the equivalent of $30. The Tianjin factory produces about 800,000 bikes yearly, which sounds like a lot until you compare the figure with the 10,000 bikes built each day during the 1970s and 1980s when the plant, then in downtown Tianjin, employed 15,000 workers and labored 24 hours a day.