BEIJING, May 26 -- China has made some progress in combatting illegal flows of speculative capital and at present is not facing a large influx of hot money, the country's foreign exchange regulator said on Tuesday.

The State Administration of Foreign Exchange also said that there were small-scale inflows of speculative funds into the property sector.

It made the comments in a statement on its website summarising the findings of a three-month investigation into cross-border money flows.