I teach on the online Chinese MA in Applied Psychology being offered by the California Institute of Integral Studies and Zijing Education Group in China, and it was my students that alerted me to this newly named syndrome.
Here's another point of view though, suggesting sampling bias may be part of the perception of students' negative mood.
For an excellent discussion of the state of the burgeoning mental health industry in China, see Li Zhang's 'Anxious China'.