correct the grammar and keep the short form: "CHINA
[1] China CPI
China’s National Bureau of Statistics revealed the country’s annual CPI decreased by 0.3% in July (consensus: -0.4%). On a monthly basis, Chinese CPI inflation increased MoM by 0.2% in July (consensus: -0.1%). China’s PPI declined by 4.4% YoY in July (consensus: -4.1%). 
[2] China Auto 
China Passenger Car Association reported than July’s retail passenger vehicle sales in China decreased by 2.3% YoY, totaling 1.78 million units. Sales also declined by 6.3% MoM. On the other hand, New Energy Vehicle retail sales experienced significant growth, rising by 31.9% YoY to reach 641K units.
Meanwhile, passenger vehicle output in July declined by 2.6% YoY to 2.1 million units and dropped by 4.3% MoM. Exports in July saw a significant increase of 63% YoY, resulting in 81% YTD growth. However, sales of major Chinese-foreign joint-venture brands experienced a decline of 28% YoY, while Tesla delivered 64,285 cars from its Shanghai plant in July.
Li Auto reported better-than-expected revenue and earnings for the second quarter. Revenue reached 28.65 billion yuan (consensus: 27.21 billion yuan) and adjusted net income was 2.71 billion yuan (consensus: a loss of 160.4 million yuan). Li Auto provided a positive revenue forecast for the third quarter, exceeding consensus estimates. CEO Xiang Li announced that the company will launch a new flagship electric vehicle model, Li MEGA, in the fourth quarter. He expressed confidence that the Li MEGA will be a successful product in the higher price segment.
[3] China Prop Country Garden  
Country Garden (2007.HK) said on Tuesday it has not paid two dollar bond coupons due on Aug. 6, totaling $22.5 million, confirming market fears that the biggest privately owned developer in China is slipping into repayment troubles.
US
[4] Fed Harker 
Federal Reserve officials, Patrick Harker and Thomas Barkin, have differing opinions on interest rate policy. Harker believes that the central bank should hold rates steady and let previous actions take effect unless there are significant economic issues. Barkin, on the other hand, believes it is too early to decide on a rate increase and wants to wait for more economic data. There are varying opinions within the Fed regarding the future of rate hikes, with some officials thinking they may come to an end, while others still advocate for them to maintain price stability.
[5] Regional bank 
Moody’s has downgraded multiple small and mid-sized US banks and put major Wall Street banks on a negative review due to concerns about interest rate and asset-liability management risks. The agency predicts a mild recession in 2024, which could lead to a decline in asset quality and an increase in credit conditions and loan losses for banks. As a result of these downgrades and reviews, market panic reached its highest level in over two months, with the VIX rising to its highest level since May 31, and both KBE and KRE dropping by around 1.3%.
[6] Credit Card balance 
New York Federal Reserve Bank reported that the last quarter, Americans reached a new record for credit card debt by borrowing over $1 trillion for the first time. Despite overall household debt remaining relatively steady, credit card balances increased by $45 bn to $1.03t. This surge in credit card debt is attributed to strong consumer spending and rising prices due to inflation.
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