That's really underselling it. Gaokao determines where you can live, where you can work, who your friends are, occasionally how much your family values you. They shut down airspace and conduct military/police patrols during examinations to sniff out cheaters. It's only the very wealthy who can just uproot their lives and send their kids to an Ivy/Stanford/Oxbridge/MIT and just skip the whole thing.

Responding to the OC, this is a downright awful solution to the current education problem in the U.S.

https://www.hup.harvard.edu/file/feeds/PDF/9780674295391_sam...