Caixin China Biz Roundup: How Criminal Gangs Exploit Smartphone Vulnerabilities to Steal Users’ Identity

In today’s episode: a viral social media post sparks concerns about Chinese users storing their lives and identities on their mobile phones; key takeaways from President Xi’s speech on the 40th anniversary of the establishment of the Shenzhen Special Economic Zone; and how Beijing has been lapping up record amounts of Japanese government debt