The bank's economists also revised upward their prediction for 2024-25 by 50 basis points to 7 per cent .
China on Saturday announced that it would restrict oil exports to North Korea from October 1 and also suspend textile imports from Pyongyang.
The Ministry of Commerce will implement UN Security Council Resolution 2375 by halting the export of liquified natural gas and gas condensate and limit exports of refined oil, reports Xinhua news agency.
However, the ban on textile imports will be effective from Saturday, it said.
Refined oil exports to North Korea from all UN members is capped at 500,000 barrels from October 1 to the end of the year and 2 million barrels annually from January 1, 2018.
China will suspend such exports once the total exports approaches the ceiling.
Exported refined oil products must be used fully on civil purposes, not for North Korea’s nuclear and ballistic missile programmes, or other activities banned by the UN Security Council, the ministry said.
Last week, the Council unanimously adopted resolution 2375, imposing fresh sanctions on North Korea over its nuclear test on September 3, which violated previous UN resolutions.