I attended a very competitive high school in China, and under pretty high peer pressure, books were stacking up on my desk. The final goal is getting high score in "SAT" like test(also much harder) and attending good university. Some of my classmates get medal from International Olympiad and have higher chance to get in to good universities.
I think the historical reason for putting education in such high level is this https://en.wikipedia.org/wiki/Imperial_examination.