Leaders of China and Russia mutually recognized their status of full market economy on Friday in Moscow, saying that it will boost the development of bilateral economic and trade cooperation.

The statement was made by visiting Chinese Premier Wen Jiabao and Russian President Vladimir Putin during their meeting in Kremlin.

Wen arrived here on Thursday for his first official visit to Russia since assuming office.

Wen also held talks on Friday with Sergei Mironov, chairman of Russian Federal Council -- upper house of the parliament, and Boris Cryzlov, chairman of State Duma -- the lower house of the Russian parliament.