More than one Cinderella will be at this ball, hoping to find a multimillionaire to hold out her glass slippers.

Some 1,500 young women have submitted their applications in this southern city to attend the ball, which also hosts a field of single and quite wealthy men.

Organized by a local matchmaking website, the meeting between lucky girls and multimillionaires will be staged aboard a luxury yacht.

Only 40 of the girls will pass the selection criteria, the Information Times reported.

According to organizers, the multimillionaires will be judged on two basic criteria: they have to be worth at least 50 million yuan and must be single.

So far, some 10 wealthy people have been approved, said Cheng Yongsheng, a manager of the website.

Each will have to pay 36,800 yuan ($5,400) for the ball, but the girls get to go for free.

The potential Cinderellas face a much more stringent selection process, said Cheng.

"Girls must be outstanding in many aspects such as appearance, figure and academic performance," Cheng said.

Most girls applying for the ball have college degrees, each with a monthly salary of about 5,000 yuan, according to Cheng.

Organizers have hired marriage counselors to determine whether the women are kind, gentle and tasteful.

Organizers held a similar event earlier this year, with only one millionaire successfully married.

"Ten more couples are dating after the previous event. Rich men, because of their busy work and strict requirements for dating girls, find it hard to meet their Cinderellas," Cheng said.