While the real test for the secondary markets will come later this year, many in the industry say even paper gains will add fuel to the already frothy valuations in the secondary marketplace.

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The Gaokao is China's national educational test, given to 10 million secondary students to determine their rank and placement at university.

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Across America, primary and secondary education remains a mess, marked by low test scores and high dropout rates.

FORBES: Move up http://i.forbesimg.com t Move down