DOMESTIC NEWS
1. Core inflation rises 4.45%, Vietnam posts trade deficit of over US$20 billion
In the first 8 months of 2026, Vietnam's CPI rose 4.45% year-on-year, while core inflation increased 4.24%. During the same period, total import-export turnover reached a record US$770.14 billion, but Vietnam recorded a trade deficit of US$20.46 billion.
>>> Details: Vietnam posts trade deficit of over US$20 billion in the first 8 months of 2026
2. Southern Elevator Club launched
Recently, in Ho Chi Minh City, the Southern Elevator Club (SVEC) was officially launched and announced its first-term Executive Committee for the 2026 - 2028 tenure. The Club is oriented to become a hub connecting businesses and individuals operating in the elevator sector in the Southern region, aiming to build a transparent cooperative environment.
Speaking at the launch ceremony, Mr. Pham Dai Nghia - Head of the Member Development Committee, Vietnam Elevator Association, said the Vietnam Elevator Association always supports the building and connecting of the business community to form a united collective that cooperates and develops together, with safety, quality, and efficiency as the focus.
From the perspective of organization and legal regulations, the Vietnam Elevator Association supports and creates all conditions for members in the Southern region to soon complete the procedures as prescribed to establish the Ho Chi Minh City Elevator Branch under the Vietnam Elevator Association, in order to further promote the role of a professional social organization recognized by the State.
>>> Details: Southern Elevator Club launched
INTERNATIONAL NEWS
1. The race to the bottom in China's elevator industry
Real estate is declining while large-scale production capacity is pushing China's elevator industry into a paradox: businesses must sell more and cheaper to stay in operation, and profits are increasingly thin.
Canny Elevator recorded revenue of 4.45 billion yuan in 2025, up 8.93%, but net profit fell 7.56%. In the first quarter of 2026, revenue continued to rise 8.91%, while net profit dropped by 46.75%.
Guangri recorded revenue in 2025 that was nearly flat at 7.25 billion yuan, while net profit fell 15.07%.
And many other figures in the financial reports of elevator businesses operating in China reflect the same trend: revenue growth is increasingly difficult to convert into profit growth.
>>> Details: The 'race to the bottom' in China's elevator industry
2. Otis to supply 251 units for Tianjin 117
Otis was selected to carry out a new installation, modernization, and maintenance package for a total of 251 elevators and escalators at Tianjin 117 in Tianjin, China. Also known as Goldin Finance 117, the project has 117 above-ground floors, stands nearly 600 m tall, and has an investment capital of approximately 18 billion yuan (over VND 69,000 billion).
According to Otis, the project has 53 SkyRise elevators configured as double-deck and Super Double Deck, of which two double-deck elevators reach a maximum speed of 12 m/s. Notably, two SkyRise elevators have a travel of more than 597 m, which the company expects to set a world record upon completion.
The current Guinness record belongs to the NextWay high-speed elevator at Shanghai Tower, with a travel of about 578 meters.
To ensure smoothness during high-speed operation, Otis uses an aerodynamic cabin design, simulates airflow, and tests in a wind tunnel; it also studies cable oscillation under the effects of wind and building movement.
