BEIJING - Chinese property developers saw higher concentration ratios last year as fewer companies took larger shares of the once-overheated sector amid industry consolidation, partly due to tightening government regulations.

Over half of the entire industry's gross assets came from 15 largest property developers in 2017, compared with 18 companies in 2016, while the top 53 owned more than 80 percent of the sector's combined assets, down from 59 firms in previous year, according to a report of the China Real Estate Association and E-house China R&D Institute.

The concentration pointed to a continued trend of more resources flowing to a small number of leading companies amid an industrial shake-up.

Governments have rolled out an array of measures to rein in surging home prices as part of a broader campaign to defuse economic risks, curb home purchase speculation, and toughen scrutiny on capital pumped into real estate developments.

Given the policy changes, large-scale companies have started to boast bigger advantages in financing and land auctions.

The report said Chinese developers reported solid improvements in major financial indices last year. Their average net profit increased 31.21 percent year-on-year, and average revenue in the property business went up 1.92 percent. Their total assets rose 21.74 percent.

The report covered 207 developers, with 124 listed in Shanghai or Shenzhen, 81 in Hong Kong and 2 overseas.