Xiamen University in south China's Guangdong Province is hunting worldwide for a leader of its institute for financial management and accounting with an annual salary of one million yuan. Besides, the university will also provide housing and one million yuan of research fund for the post.

It is the first time for Xiamen University to give such a high offer.

According to Zhu Chongshi, president of Xiamen University, the move is only a start of the university's a series of attractive salaries. Up to now, the university has promised an annual salary of 200, 000 to 500, 000 yuan and research funds with the highest of five million yuan for the heads of its institute for economics, medical college and the state key laboratory for off-shore marine environment science.