BEIJING, May 16. /TASS/. Moscow and Beijing will improve financial infrastructure for uninterrupted functioning of payments between Russian economic entities, according to a joint statement on deepening of partnership signed by Russian President Vladimir Putin and the Chinese leader Xi Jinping.

Moreover, the countries will boost the share of national currencies in bilateral trade, investment, lending and other economic transactions.

Russia and China have also reached an agreement to step up cooperation in the area of banking and insurance regulation, as well as facilitate the stable development of banking and insurance companies of the two countries.