(Yicai Global) July 23 -- Huawei Technologies will recruit youthful talent worldwide to lure high-caliber personnel.

Starting this year, the Shenzhen-based global telecom and smartphone Gargantua will offer a CNY2 Million (USD290,000) annual salary to top-shelf doctoral candidates in their last year of study, founder Ren Zhengfei announced, The Paper reported.

Four PhD graduates who started at the company this year will receive an annual salary of over 1.4 million, and the highest will get 2 million, per the report. The compensation for another four will be CNY108,000 to CNY896,000 (USD15,700 to USD130,000).

Huawei employees drew average annual pay of CNY1.1 million last year, but the usual turnover rate of doctoral staff in the past five years has been more than one-fifth, public information shows.

Ren also revealed in an internal document that 20-30 talented 'youngsters' will be recruited from all over the world this year, and that number will gradually rise in future to stimulate the firm's vitality.

Huawei has at least 700 mathematicians, more than 800 physicists, over 120 chemists, six or seven thousand basic research experts, and 60,000-plus senior engineers, Reni said in an interview earlier this year.

As the world's leading telecommunications equipment provider, Huawei has thrown money into research and development. The company spent USD15 billion US dollars in R&D last year, or 15 percent of revenue; R&D investment in the next five years will top USD100 billion.

Editor: Ben Armour