Best practice when creating client and server NodeJS?

I created a client and server folder, the server will serve the static and bundled (webpack) files from the client (using ReactJS) and also will have an API, I was wondering, is it wrong or not recommended to have only one package.json for both client and server or it's better to have separeted, like this:

1:

• package.json:
• client
• server

2:

• client:
  • package.json
• server
  • package.json

The only way I know how to deploy a NodeJs app is like this where Express will serve the static file and also have the API routes. I don't know if it's possible to have two separated severs, one for the API and another one for the client. Any ideas?