The construction of Xiong'an New Area has completed 400 billion yuan (57.55 billion U.S. dollars) of investment after China announced plans to establish the new area in 2017, the country's top economic planner said Tuesday.

Construction of Xiong'an now can provide about 100,000 jobs and up to 200,000 jobs during peak hiring seasons, said Cao Yuanmeng, an official from the National Development and Reform Commission, at a press conference.

The new area spans the counties of Xiongxian, Rongcheng, and Anxin in Hebei and is home to Baiyangdian, a major wetland in northern China.

Progress has been made in restoring the ecological environment.

The water quality in Baiyangdian has improved from Grade V, the lowest level of China's five-tier water assessment system, to Grade III, said Cao.

Located about 100 km southwest of Beijing, the new area will help advance the coordinated development of the Beijing-Tianjin-Hebei region. It has been designed as a major recipient of functions relieved from Beijing that are nonessential to its role as China's capital and to explore a new development model in densely populated areas.