China's Foreign Minister Wang Yi said the sanctions were the right response, but repeated a call for dialogue.
The US began talks on a resolution with China a month ago, after Pyongyang launched its first intercontinental ballistic missile on July 4, followed by a second ICBM test on July 28.
Seoul's foreign minister Kang Kyung-wha and her USA counterpart have discussed implementing the newly adopted UN Security Council resolution on the sidelines of ASEAN Regional Forum.
"We call on all sides to take a responsible attitude when making judgements and taking actions".
"We would like to urge other parties, such as the US and South Korea, to stop increasing tensions. Sanctions are needed but sanctions are not the final goal", Wang said.
ASEAN is calling on North Korea to "exercise self-restraint" and stop its missile tests that threaten the region's peace and stability. Those tests sharply escalated USA fears that Pyongyang is a key step closer to mastering the technology needed to strike American soil with a nuclear-tipped missile.
Susan Thornton, the top US diplomat for Asia, also said it's important China is "continuing to implement fully the sanctions regime", according to the news service.
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Saturday's resolution banning North Korean exports and limiting investments in the country was passed unanimously.
Wang Yi said he urged Ri Yong-ho to abide by United Nations resolutions in a meeting on Sunday in the Philippines. "After all, isolating North Korea so that no country would maintain any ties with it inflames tensions over the issue, augments United States strategic clout in the region and drives a wedge between China and its neighboring countries", the article added.
US President Donald Trump on Saturday touted the new United Nations measures, saying they will have a "very big financial impact".
A few hours later, White House press secretary Sarah Huckabee Sanders said in a statement that Trump commended the Security Council for its action and appreciated the cooperation of China and Russian Federation in passing the resolution.
Wang also urged the US and South Korea "to stop increasing tensions" and said that all sides should return to negotiations. It said that was the most reasonable way to ease tensions and create conditions for new talks.
But the newly elected South Korean government of President Moon Jae-In is also much more open to negotiations than the previous administration run by Park Geun-Hye.
Soputheast Asian officials were still trying to reach consensus on a customary communiqué that was supposed to have been released on Saturday, reflecting differences about how to address disputes involving Beijing in the South China Sea.
China has in recent years expanded its presence in the sea by building artificial islands, which are capable of holding military bases.