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Property industry shake-up intensifies

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 regulation. Over half of the entire industry's gross assets came from the 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.

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