Gelonghui November 1 | According to a report published by J.P. Morgan Chase, it favors the four major domestic banks because their profits are more stable. The bank upgraded the Bank of China's rating from “neutral” to “increased holdings” to reflect that its net interest spread prospects are more resilient. Also, the ratings of Industrial Bank and Pudong Development Bank were downgraded from “neutral” to “reduced holdings” because the third-quarter results fell short of expectations. The bank expects that the bank's revenue growth will continue to be under pressure in the fourth quarter of this year and next year. In contrast, the revenue and profit growth of the four major domestic banks, namely ICBC, CCB, Bank of China, and Agricultural Bank, will be more stable, and it is expected that the performance of the four major domestic banks will outperform their peers in the next two quarters. The bank's industry preferences are ICBC, CCB, Bank of China, and the People's Bank of China.