The most notable perk is a significant discount on buying an apartment in a new tower block 'owned' by the university.

And there's another, perhaps equally advantageous perk, after (compulsory) retirement at age 60, Chinese university teachers receive pensions that are fixed at 100% of their final salaries! But I'm unsure whether or not they're index-linked to rises in the cost of living.
In contrast, primary and secondary schoolteachers in the UK receive index-linked teachers' pensions that they have contributed to mandatorily during their teaching careers, said payments called superannuation deductions, set at 1/80th of their final salaries for each year they've taught. For example, a schoolteacher who has taught for 40 years in the state or the private sector can only get a pension equivalent to 50% of his/her salary at the time of retirement.
You can compare this with company employees in the UK with contributory pension schemes, where the relevant fraction is commonly 1/60th for each year of service, but perhaps they're not index-linked in all cases!

Thanks, CL, for your contributions, which will surely be of great interest to many readers of this thread.