Apple has received regulatory approval for a WLAN Authentication and Privacy Infrastructure (WAPI) compatible version of the iPhone. Engadget reports that the approved phone’s model number, A1303, suggests this is a WAPI version of the iPhone 3GS, instead of being a next-generation device. Currently, iPhones sold in China lack Wi-Fi capabilities, as Apple did not have a version with WAPI — China’s homegrown wireless networking technology…